- 11 Nov 2022
- ICICIdirect Research
APOLLO HOSPITALS POSTS STRONG Q2FY23 NUMBERS IN LINE WITH ESTIMATES
APOLLOHOSP - 7421 Change: -3.45 (-0.05 %)News:
Revenues grew 12% QoQ at Rs4251 crore. Growth was driven by elective surgeries post normalcy, increase in international patient mix. EBITDA increased 15.2% QoQ to Rs566 crore while, EBITDA margins increased 37 bps QoQ to 13.3 %. Margins improved due to the strong margin performance by hospitals at 25%(matured-28%, new- 18%). Adjusted net profit declined 35% QoQ to Rs205 crore, delta in profit due to high tax rate in this quarter
View:
Apollo's performance in this quarter was driven by robust occupancy levels, increasing patient count (both domestic and international) which reflects the healthcare industry coming back to normalcy. Pharmacy business delivered strong performance with addition of 240+ store addition followed by growth in GMV of Apollo 24/7 which increased to Rs294 crore vs. Rs215 crore in Q1FY23
Impact:
Positive