Apollo Hospitals Q4FY23 PAT up 50.14% at Rs146crore due to lower tax burden in the current quarter

Apollo  Hospitals reported 21.3% growth in net sales revenues for the March 2023 quarter on consolidated basis at Rs4,302 crore. Revenues were marginally up 0.91% on sequential basis. For the quarter, the revenues from the healthcare services were up 18.5% yoy at Rs2,227 crore. The revenues from retail health and diagnostics vertical were up 3% at Rs308 crore while revenues from digital and pharmacy distribution was up 30.8% at Rs1,799 crore.

While the operating profits for the quarter were up 10.87% overall at Rs329 crore, the net profits grew 50.14% on yoy basis to Rs146 crore. The operating profits growth was almost 50% yoy at Rs411 crore in the healthcare services business. However, the retail health and diagnostics vertical saw operating profits fall by nearly three-fourth while the digital health and pharmacy business actually dipped into an operating loss of Rs-83 crore. Net profit growth was largely on account of lower tax burden in the quarter.

Financial highlights for Mar-23 compared yoy and sequentially

The operating margins tapered yoy from 8.37% to 7.65% due to higher operating costs and operating losses in the digital pharmacy business. Net margins improved at 3.39% compared to 2.74% in year ago period. Company declared a final dividend of Rs9 per share, with combined with the interim dividend of Rs6 per share came to total dividend of Rs15 per share.