Apollo Hospitals Q3 net up 22 pc at Rs 75 cr

Apollo Hospitals today posted 22.29 per cent increase in consolidated net profit at Rs 74.6 crore for the third quarter ended December 31, 2012.

The Chennai-headquartered healthcare major had posted a net profit of Rs 61 crore for the corresponding period of previous fiscal.

Revenues of the company rose to Rs 980.9 crore for the third quarter, as compared to Rs 802.9 crore for the same period of 2011-12 fiscal, Apollo Hospitals Enterprise Ltd said in a statement.

"The improving performance of our pharmacies business is contributing to balanced growth. The sale of our stake in Apollo Health Street has also strengthened our balance sheet," Apollo Hospitals Chairman Prathap C Reddy said.

He added that the company is embarking on a never before expansion plan with 14 hospitals scheduled to be added to its network over the next 30 months. The company said sales of its standalone pharmacies grew by 29.3 per cent to Rs 290.5 for the third quarter ended December 31, 2012.

On a standalone basis, the healthcare firm posted net profit of Rs 80.6 crore for the third quarter, as compared to Rs 64.7 crore for the same period of 2011-12 fiscal.

Shares of Apollo Hospitals today settled at Rs 846.15 on the BSE, up 3.02 per cent from their previous close.

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