Apollo Hospitals fourth quarter results: Net profit rose 76% year-on-year to Rs 254 crore.
The company announced that its net profit in the fourth quarter of last year was 14.5 billion won.
Revenue for the fourth quarter of FY24 stood at Rs 4,944 million, up 15% year-on-year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs.640 crore in the fourth quarter of 2024, up 31% year-on-year. EBITDA margin expanded 161 basis points year-on-year to 12.95%.
For FY24, revenue grew 14% YoY to Rs. 986.7 billion, and net profit increased 13% to $1.145 billion. EBITDA margin fell 71 basis points to 23.88%. Healthcare services business (hospital business) revenue stood at Rs 256.3 billion in the fourth quarter of FY24, up 17% year-on-year. EBITDA margin decreased 122 basis points to 23.15%. In the fourth quarter of fiscal 2024, occupancy was 65% and average length of stay (ALOS) was 3.30. Average revenue per occupied bed (ARPOB) rose 12 per cent to Rs 59,523. The company said it plans to add 2300 beds at Rs.3400 crs over the next three years.
The Diagnostics and Retail Healthcare business grew 15% year-on-year to Rs 355 crore in the fourth quarter of FY24. The business’ EBITDA margin rose 178 basis points year over year to 10.06% in the fourth quarter.
Apollo HealthCo – The digital healthcare and omnichannel pharmacy platform recorded $202.7 billion in the fourth quarter of 2024, up 13% year-over-year.
Apollo Health Co’s losses narrowed to Rs 18 crore in Q4FY24 from Rs 89 crore in Q4FY23.
As of March 31, 2024, Apollo Hospitals had 7,945 surgical beds across its network (excluding AHLL and administrative beds), of which 2,557 were new and 1,603 beds were occupied.
Apollo Hospitals said Shobana Kamineni has decided to resign from her position as vice president effective immediately. She will continue to serve as a non-executive, non-independent director on Apollo’s board of directors.
Kamineni will serve as Chairman of Apollo Health Co, an omni-channel platform in which Apollo Hospitals owns 59.2%.
“Given our need to focus on successfully scaling Apollo HealthCo’s business lines, including Apollo 24×7, our omni-digital health platform, which requires our dedicated attention,” Kamineni said in a letter to the board.
The company declared a final dividend of Rs 10 per share for FY24. Previously, an interim dividend of 6 rupees per share was declared.
