Apollo Hospitals reports a 77% increase in Q4FY24 net profit

The Street assessed Apollo Hospitals Q4 net profit as Rs 257 crore and income as Rs 4,927 crore.

Apollo Hospitals Enterprise, a leading healthcare services provider, announced a 77% rise in its consolidated net profit for the fourth quarter of fiscal year 2024 (Q4FY24).

The net profit surged to Rs 258 crore, compared to Rs 146 crore in the same quarter of the previous fiscal year. This result aligns closely with Moneycontrol’s estimated net profit of Rs 257 crore.

Revenue Growth

The company’s revenue for the quarter rose by 15% year-on-year, reaching Rs 4,944 crore, up from Rs 4,302 crore in the corresponding quarter of the previous year. The Street had projected the revenue to be around Rs 4,927 crore, slightly below the actual figures.

Dividend Announcement

Apollo Hospitals’ board has recommended a final dividend of Rs 10 per share for FY2023-24. The record date for the final dividend has been set for August 17, 2024.

Re-appointment of Executive Chairman

The board has also decided to re-appoint Dr. Prathap C Reddy as a whole-time director designated as Executive Chairman for another two years, effective from June 25, 2024. This re-appointment is subject to the approval of the shareholders.

Operational Performance

The hospital chain’s operational performance showed significant improvement, largely due to reduced losses from its online arm, Apollo HealthCo.

Market Response

Despite the positive financial results, shares of Apollo Hospitals closed 2.5% lower at Rs 5,761 apiece on the BSE on May 30.

Summary

Apollo Hospitals has demonstrated strong financial performance in Q4FY24, with significant increases in net profit and revenue.

The company’s strategic decisions, including the proposed dividend and re-appointment of Dr. Prathap C Reddy, are expected to maintain investor confidence. However, market reaction was mixed, with a slight decrease in share price following the announcement.