Shares of Apollo Hospitals Enterprise climbed over 6 percent and hit a record high of Rs 7,433.65 on November 7 as investors cheered for the company's stellar earnings report for the July-September quarter.
At 09.19 am shares of Apollo Hospitals were trading at Rs 7,405 on the NSE.
The healthcare services major's consolidated net profit surged 59 percent to Rs 395.70 crore in the September quarter, up from Rs 248.80 in the year-ago period. Revenue also grew over 15 percent to Rs 5,589.3 crore in the quarter gone by, up from Rs 4,846.9 crore that it clocked a year ago.
With this, the company's consolidated net profit as well as revenue came ahead of Moneycontrol's estimated Rs 361 crore and Rs 5,518 crore, respectively. The solid quarterly performance was aided by increased demand for its healthcare services, which also prompted mid-teens growth across all segments.
Meanwhile, Apollo HealthCo-- the company's digital health and pharmacy vertical, which offers online consultations and operates the 'Apollo 24/7' platform turned profitable this quarter. It reported a profit of Rs 38.9 crore, compared with a loss a year ago, further boosting the hospital chain operator's margins.
Along with that, improved occupancy for its flagship business and better performance across segments aided the company's margin expansion. EBITDA margin for the healthcare services major swelled to 14.16 percent in the quarter gone by, a sharp expansion from the 12.9 percent it reported in the same period of the previous fiscal.
Occupancy for Apollo's flagship hospitals business was at 73 percent in Q2, up from 68 percent in the same period in the previous year, aided by a strong increase in patient flows across hospitals.
Apollo Hospitals also strengthened its commitment to expanding its healthcare footprint by announcing two major projects. First, it has signed a definitive agreement to build and operate a 500-bed hospital in Mumbai, Maharashtra. Additionally, Apollo Hospitals plans to expand its Lucknow facility from 300 to 500 beds, leveraging a recently acquired 1.2-acre plot to accommodate the 200-bed increase. Together, these projects are part of Apollo’s broader strategy to add over 3,512 beds (2,877 census beds) across 11 locations in India over the next four years, further enhancing its healthcare footprint.
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