Buzzing Stock: Apollo Hospitals surges 9% after four-fold jump Q2FY22 net profit

The company is seeing a shift in the trend with an increase in non-COVID-19 revenue and a pick-up in surgical volumes.

Apollo Hospitals and Enterprises shares were up by 9% during intraday trade on Monday and neared their all-time high of Rs 5183.30 after the healthcare major reported a four-fold increase in net profit for the quarter.

The company reported a topline growth of 34.64% to Rs 3,717.07 crore in Q2FY22 from Rs 2,760.72 crore posted in Q2FY21. PBIDT (Ex OI) jumped 105.11% to Rs 614.99 crore in Q2 FY22 from Rs 299.84 crore reported in Q2FY21 and the corresponding margin grew by 568 basis points to 16.5% in Q2 FY22 from 10.9% in Q2 FY21. Consolidated net profit was up 311.11% YoY to Rs 247.82 crore during the quarter.

On the operational front, the company said that occupancy across the group was at 4,984 beds in Q2FY22 (representing 65% occupancy) as compared to 4,119 beds (representing 56% occupancy) in Q2FY21. The Q2FY22 occupancy in mature hospitals was at 3,518 beds (representing 65% occupancy). New hospitals had an occupancy of 1,466 beds (representing 66% occupancy) in Q2FY22. Meanwhile, the inpatient volumes across the group increased by 46% to 120,105 in Q2 FY22 from 82,153 reported in the previous year.

Commenting on the performance, Apollo Hospitals Group Charmain, Prathap C Reddy stated that, "Company saw patients confidently returning to the hospitals including the OPDs and inpatient admissions. The trend has started to shift with an increase in non-COVID-19 revenue and a pick-up in surgical volumes." 

Headquartered in Chennai, Apollo Hospitals Enterprise Ltd engages in the operation and management of hospitals, diagnostic centres and pharmacies. It operates through the segments of Healthcare, Pharmacy Distribution, Clinics, and others.

At 2.18 pm on Monday, the stock of Apollo Hospitals and Enterprises was seen trading at Rs 5112.80, up by 9.51% or Rs 443.85 per share on BSE. The 52-week high of the scrip is recorded at Rs 5,183.30 and the 52-week low at Rs 2,111.20 on the BSE.