Shares of Apollo Hospitals Enterprise jumped over 3 percent on May 31 as investors responded positively to the company’s impressive earnings for the March quarter of FY24. By 09:15 am, the shares were trading at Rs 5,897.60 on the NSE.
Apollo Hospitals showcased solid growth across key financial metrics. The net profit for Q4FY24 soared over 77 percent to Rs 258 crore, compared to Rs 146 crore in the same quarter last year. This result aligned closely with Moneycontrol’s estimated net profit of Rs 257 crore.
This growth was partly due to reduced losses from its online business, Apollo HealthCo, which achieved an EBITDA of Rs 11.70 crore, a significant improvement from a loss of Rs 72.10 crore in the previous year. Cost optimisation and increased operational revenue were key factors in this turnaround.
Apollo Hospitals’ revenue increased by 15 percent year-on-year to Rs 4,944 crore, slightly above analysts’ expectations of Rs 4,927 crore. The EBITDA margin also improved, rising to 13 percent from 11.3 percent in the same period last year.
The hospital’s business reported a slight increase in occupancy rates, reaching 65 percent in Q4 compared to 64 percent last year. Additionally, the Average Revenue Per Occupied Bed (ARPOB) increased by 12 percent to Rs 59,523.
