Profit before tax increased 15.87% year on year (YoY) to Rs 379 crore in the quarter ended 30 September 2023.

EBITDA grew to Rs 627.6 crore during the quarter as compared with Rs 565.4 crore in Q2 FY23. This was after Apollo 247 cost of Rs 197.3 crore in the quarter (including Rs 35 crore non-cash ESOP charge) as against Rs 174.4 crore.

During the quarter, the company's revenue from Healthcare Services was Rs 2,565.9 crore (up 12.71% YoY) and revenue from Digital Health & Pharmacy Distribution was Rs 1,945.4 crore (up 16.61% YoY) and the revenue from Retail Health & Diagnostics stood at Rs 354.2 crore (up 11.28% YoY).

As on 30 September 2023, Apollo Hospitals had 7,765 operating beds across the network (excluding AHLL & managed beds), out of which 5,051 were occupied beds. The overall occupancy for hospitals was at 68% as against 62% in the trailing quarter, aided by a robust increase in patient flows across hospitals.

Meanwhile, the board, based on the recommendations of the investment committee, has approved an expansion plan for 2,285 beds, involving a balance capital outlay of around Rs 3,435 crore after reckoning for land/ asset acquisition costs already incurred.

The firm stated that this expansion plan is in line with the plan to expand footprint in identified strategic locations to drive continued business growth and cater to the increasing demand for quality healthcare services across the country.

Dr. Prathap C Reddy, chairman of Apollo Hospitals Group said, “We are happy to have announced our new hospitals at Pune and Kolkata, and we are forging ahead with our plans to add 2,300 high-quality beds in key geographies over the next three years.

We introduced the Apollo Connect program, a collaborative initiative that unites healthcare providers on a single platform. This initiative ensures superior care while keeping patients closer to their homes, bolstering operational and business efficiency for hospitals and nursing homes across the nation.”

Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.