On August 14, Apollo Hospitals Enterprise Ltd shares rose by over 4% following a strong quarterly earnings report. The company’s profit after tax (PAT) for the June 2024 quarter jumped by 83%, reaching ₹305.1 crore compared to the previous year.
Revenue for the quarter also increased by 15% year-on-year, totaling ₹5,085.6 crore. Operating profit, measured as earnings before interest, tax, depreciation, and amortization (EBITDA), grew by 33% to ₹675.1 crore.
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Apollo Hospitals’ healthcare services saw a 15% revenue growth, driven by an 11% increase in inpatient volume and a 4% rise in price and case mix. Occupancy improved to 68% from 62% a year ago.
The company’s diagnostics and retail health segment also did well. Apollo Health and Lifestyle Ltd’s revenue grew 15% in the June quarter, and its losses decreased to ₹14.8 crore from ₹21.4 crore last year.
Additionally, the digital health and pharmacy distribution segment became EBITDA positive, with a profit of ₹22.5 crore compared to a loss of ₹56.6 crore in the previous year. Despite this, it still reported a net loss of ₹12.9 crore, though it was lower than the previous year’s loss. Following the earnings announcement, Apollo Hospitals shares hit an intraday high of ₹6,865 on the NSE.