The company, which had a net profit of Rs 81.34 crore in the previous fiscal quarter, said it intends to raise up to Rs 750 crore through a rights issue to its shareholders.
Apollo Hospitals Enterprise reported a net profit of Rs 146 crore for the March quarter, up 50.5 percent from Rs 97 crore the previous year. The bottom line, however, fell far short of the analyst’s projection of Rs 198 crore.
The company, which had a net profit of Rs 81.34 crore in the previous fiscal quarter, said it intends to raise up to Rs 750 crore through a rights issue to its shareholders.
Revenue climbed by 21.3 percent to Rs 4,302.2 crore in the third quarter, meeting forecasts of Rs 4,302.7 crore. The company’s revenue in the previous year’s similar quarter was Rs 3,546.4 crore.
However, the company’s standalone net revenues increased to Rs 1,203.69 crore for the quarter under review, up from Rs 998.18 crore for the same period a year ago, according to a BSE filing by Apollo Hospitals Enterprise.
As a result, the EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin fell to 11.4 percent from 13.1 percent in the previous quarter.
In a separate filing, Apollo Hospitals stated that its Board of Directors has agreed to recommend a dividend of Rs 5.75 per share (115 percent of the share’s face value) for the fiscal year.
The company’s Digital Health division posted an EBIT (earnings before interest and taxes) loss of Rs 84.4 crore, up from Rs 74.2 crore in the previous quarter. The arm’s EBIT loss in the previous quarter was Rs 8 crore.
Since the digital arm’s losses increased quarter over quarter in Q4, analysts and investors will be looking for management’s comments on its digital business and the hospital segment’s prospects.
The business also stated that it will cover the losses at Apollo HealthCo through internal accruals over the next six months, implying that the hospital giant’s margin pressure will likely remain year on year in the coming quarters.
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