Apollo Hospitals Q1 Results FY2023, PAT at Rs. 323.78 crores

On 11th August 2022, Apollo Hospitals announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Revenue from operations at Rs. 3795.6 crores, up 0.94% over last year. 

- Reported PBT for the quarter was Rs. 254.2 crores, down by 57.56 YoY.

- Reported Net Profit for the quarter was Rs. 323.78 crores, down by 35.33% YoY. 

Business Highlights:

HOSPITALS:

- As of June 30, 2022, Apollo Hospitals had 7,864 operating beds across the network (excluding AHLL & managed beds), out of which 2,421 were in new hospitals, with 1,331 occupied beds. 

- The Mature hospitals had an occupancy of 62% in Q1FY23 and the new hospitals had an occupancy of 55%. 

- Revenues of the healthcare services division increased by 9% over Q4 FY22 to Rs. 2,023 crores in Q1FY23, aided by strong growth in mature hospitals by over 14%

- IP Volumes across the group grew by 9% QoQ. Mature hospital volumes grew 13% QoQ, while new hospital volumes grew by 1% QoQ. 

DIGITAL HEALTHCARE AND OMNI-CHANNEL PLATFORMS:

- Apollo HealthCo Ltd. (AHL) is a wholly owned subsidiary that houses the Pharmacy distribution business, the digital healthcare services platform - Apollo247 and the 25.5% interest in Apollo Pharmacies Ltd. Apollo Health Co Revenues were at Rs. 1479 crores.

- 232 net new stores were opened in this quarter, taking the total number to 4761 stores.  

- GMV of Apollo 24/7 at Rs. 215 crores in Q1FY23. On track to deliver Rs 1500 crores of GMV in FY22-23

RETAIL HEALTH:

- Apollo Health & Lifestyle Ltd. (AHLL) is a wholly owned subsidiary that houses the retail healthcare business of Apollo Hospitals. AHLL Consolidated Revenues were Rs. 293 crores in Q1FY23.

Other Highlights:

- Completed the acquisition of a hospital asset in Gurugram for a consideration of around Rs. 450 crores. The asset has a potential for 650 beds over 700,000 square feet and will be commissioned in 24 months. 

- Tied up with Imperial hospitals Bangladesh to manage their 375-bed hospital in Chittagong, Bangladesh. 

- Achieved stage 6 accreditations from Healthcare Information and Management Systems Society (HIMSS), including being only the second healthcare provider worldwide for Digital Imaging Adoption Model (DIAM) 

- Apollo integrated its proprietary AI-based Cardiovascular diseases tool (AIVCD) with Singapore-based ConnectedLife’s digital wellness solutions to dramatically improve the accuracy of cardiac disease prediction

- Apollo Education UK (AEUK) introduced the International Clinical Fellowship Programme (ICFP) for Doctors in collaboration with Global Training and Education Centre (GTEC) at Wrightington, Wigan, and Leigh Teaching Hospitals NHS Foundation Trust, and Edge Hill University, UK

Commenting on the results, Dr. Prathap C. Reddy, Chairman, Apollo Hospital Group said, “The first quarter of the new financial year has seen a definitive increase in the demand for non-COVID health services and augurs well for growth this financial year. We have been able to serve a larger number of patients with non-communicable diseases (NCDs) and restore them to health. At the same time, our focus on preventive healthcare has continued to help patients manage chronic conditions and nip them in the bud.”