Apollo Hospitals 14% Revenue Surge In Q3FY24

Apollo Hospitals, a healthcare provider, has reported its financial performance for the third quarter of fiscal year 2024, marked by a 14 per cent year-on-year growth in consolidated revenue. 

The healthcare provider in a press statement on Friday revealed that  the consolidated revenues for Q3FY24 reached Rs 4,851 crore, showing a 14 per cent YoY growth. The EBITDA grew by an impressive 21per cent, reaching Rs 614 crore, while the Profit After Tax (PAT) recorded a substantial 60 per cent YoY increase, standing at Rs 245 crore.

The financial highlights for Q3FY24 include consolidated revenues of Rs 4,851 crore, with Healthcare Services revenues growing by 12 per cent  YoY to Rs 2,464 crore. Apollo HealthCo revenues grew 17 per cent YoY to Rs 2,049 crore, and Apollo Diagnostics revenues increased by 19 per cent YoY. The company declared an interim dividend of Rs 6 per share (120 per cent). 

Apollo Hospitals has emerged as the first private hospital group in India to successfully complete a CAR-T cell program. This achievement allows the group to provide access to 'Made in India' CAR-T cell therapy, aligning with its commitment to delivering state-of-the-art solutions for cancer. The Apollo Cancer Centre in Bengaluru also inaugurated India's first AI-Driven Precision Oncology Centre, leveraging artificial intelligence for cancer risk assessment and improving patient outcomes, the statement from the company read.

Dr Prathap C Reddy, Chairman of Apollo Hospitals Group, emphasised the company's dedication to preventive healthcare, stating, "In a country where 5.8 million lives are claimed annually by NCDs, and 1 in 4 Indians faces the risk of such an outcome before the age of 70, Apollo ProHealth emerges as a beacon of comprehensive personalised prevention."

In collaboration with Steel Authority of India Limited (SAIL), Apollo Hospitals inaugurated a 290-bed multi-super-specialty hospital in Rourkela, the company added.

The quarter also witnessed the launch of the first pediatric health assessment for chronic lifestyle diseases under the Pediatric ProHealth Programme, reinforcing Apollo's commitment to addressing non-communicable diseases in children. The organization collaborated with India Post for the 'Stamp Out Childhood Cancer' campaign, contributing to raising awareness on childhood cancer, the statement from the company added.