In comparison to a profit of 323.9 crore in the same quarter previous year, Apollo Hospitals Enterprises recorded a 46.5 percent year-over-year (YoY) fall in its consolidated net profit of 173.4 crore for the June quarter of the current financial year (Q1FY24).
However, operating revenue increased 16.4% YoY to $4,417.8 crore from $3,795.6 crore in Q1FY23. According to the company’s BSE filing, combined EBITDA before 24/7 operating costs and ESOP charges was 712.9 crore, up 13% YoY.
Healthcare services revenue increased to 2,293.7 crore, up 13% YoY, while Healthco revenues increased to 1,805.4 crore, up 22% YoY. According to the company, Q4FY24 break even is expected.
“In the first quarter of the fiscal year 2024, we had sound growth and performance. Dr. Prathap C. Reddy, Chairman of the Apollo Hospitals Group, stated that Apollo Hospitals “remains committed to advancing healthcare excellence, embracing innovation, and expanding our reach to provide quality medical services to even more communities.”
In a stunning integration of technology and personal touch in the healthcare industry, the company showcased its use of AI (artificial intelligence) across the healthcare spectrum.
“The health of entire communities is still at risk due to the growing global burden of non-communicable diseases (NCDs). With the support of our dedication to technology-driven healthcare, we are resolute in our resolve to meet this challenge head-on. At Apollo, we have used AI as a strong ally to integrate it into our healthcare ecosystem, according to Reddy.
“We are using AI across the healthcare spectrum, including prediction, prevention, diagnosis, and individualized management,” Reddy said. “Tools like the AI CVD, AI-enabled Apollo ProHealth platform, the Apollo Clinical Intelligence Engine (Apollo CIE), AI-integrated radiology and diagnostics workflow, and the AI-powered smart in-patient room automation system are examples of this.
The business said that it would add more than 2,000 extra beds over the following four years as part of its ongoing investment in the future, increasing both its physical and digital footprints.
As of June 30, 2023, Apollo had a network of 7,798 operating beds throughout its institutions, with 14 new hospitals providing 2,380 operating beds. Apollo is also improving its current infrastructure. According to the company’s BSE filing, these new facilities have already reached a utilization rate of 60% and are well positioned for future growth and profitability.
