Tuesday, November 26

Apollo Hospitals shares surge 6% on 63% YoY jump in Q2 profit

Shares of Apollo Hospitals surged 6% to their all-time high of Rs 7,396.30 on the BSE after the company reported a 63% year-on-year (YoY) jump in net profit to Rs 379 crore in Q2FY25, led by its hospital business.The company reported a net profit of Rs 233 crore in the corresponding quarter of the previous year.The earnings before interest, tax, depreciation and amortization (EBITDA), EBITDA rose 30% YoY to Rs.816 crore in Q2FY25.The healthcare services business (hospital business) revenue grew 14% YoY to Rs 2,903 crore in Q2FY25. The EBITDA margins for the healthcare services business stood at 24.9%.The overall occupancy for hospitals was at 73% vs 68% in the same period in the previous year, aided by a strong increase in patient flows across hospitals with inpatient (IP) volume increasing by 8.3% and outpatient (OP) new registrations by 10%.Apollo Hospitals had 9,423 operating beds across the network.Diagnostics and retail healthcare business grew 14% YoY to Rs.404 crore in Q2FY25.Apollo HealthCo - the digital healthcare and omni-channel pharmacy platform grew 17% YoY to 2,282 crore in Q2FY25.Post the Q2 results, global brokerage firm JP Morgan has maintained an Overweight rating on the stock with a target price of Rs 7,200“Q2 results were broadly in line, and occupancy strength continued. Healthy revenue growth was seen across segments. Strong occupancy was driven by healthy growth in IP/OP volumes. Hospital EBITDA margins improved, and a strong uptick in AHLL margins was seen,” said JP Morgan in its note.The shares of Apollo Hospitals have increased by nearly 35% in the last one year while gaining 21.3% in the current year so far. In the last 6 months, the stock gained 15%.The stock closed flat on Wednesday at Rs 6,969 on the BSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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