Business

Apollo Hospitals Group records a turnover of Rs 3118 Million

This marks a significant increase of 48.9 per cent in net profit for the quarter

Asia's largest healthcare service provider recorded a turnover of Rs 3,118 million for the quarter ended March 31, 2008— an increase of 31.6 per cent over the income of Rs 2,368 million for the corresponding period of last year. The net profit after tax for the quarter stood at Rs 219 million, a 48.9 per cent increase over the profit of Rs 147 million for the corresponding period of last year.

The cumulative income for 12 months ended 31st March 2008 was Rs 11,500 million, a 28 per cent increase over the income of Rs 8,995 million during the corresponding period of last year. The net profit after tax before extra-ordinary items for 12 months ended March 31, 2008 stood at Rs 1018 million, a 51 per cent increase over Rs 676 million for the corresponding period of last year. The hospital division turnover grew at 21 per cent when compared to previous year, with a 32 per cent growth in Earnings Before Interest Tax (EBIT).

During the financial year 2007-08, 262 standalone pharmacies were added taking the total tally to 612. Standalone pharmacies tend to be cash positive after 12 months of operations. However, the mature same stores continued to show positive growth rate of 16 per cent. Apollo Global Projects and Consultancy division revenue stood at Rs 220 million, an increase of 35 per cent in the turnover of Rs 162 million for the year ended March 31, 2007. The EBIT Rs 98 million as compared to Rs 21 million for the corresponding period of last year.

Apollo Hospitals has embarked upon an ambitious plan of setting up Hospitals. The company has already procured two acres of land in Tiruchirapalli. Speaking about group's outstanding performance and dynamic plans ahead, Dr Prathap C Reddy, Chairman, Apollo Hospitals Group said, "The relentless pursuit of clinical excellence and patient-care has been the hallmark of Apollo Hospitals group. The trust that the nation has in Apollo Hospitals is represented in its outstanding growth over the last twenty-five years." He added, "The Apollo Hospitals Group has innovative plans to accelerate access to first-rate healthcare facilities across urban, semi-urban and rural India. Acquisitions and strategic partnerships across the country will be integral to the proposed rapid growth. Mindful of the emerging diverse needs, Apollo Hospitals has specific initiatives planned to address the new infrastructure and industrial developments in India."

EH News Bureau