News

Published: May 31, 2024
Updated: May 31, 2024

Apollo Hospitals Q4 Net Profit Surges 77% to ₹258 Crore, Aligns with Expectations Strong Financial Performance

Apollo Hospitals Enterprise reported a significant 77% increase in its consolidated net profit for the fourth quarter of FY24, reaching ₹258 crore. This marks a substantial rise from the ₹146 crore net profit recorded in the same quarter of the previous fiscal year. The results closely align with market expectations, as analysts had projected a net profit of ₹257 crore.

Revenue Growth

The company's revenue also saw a notable increase, rising 15% year-on-year to ₹4,944 crore, compared to ₹4,302 crore in Q4FY23. This revenue figure slightly exceeded the market estimate of ₹4,927 crore, demonstrating the company's strong performance in the quarter.

Dividend Announcement

Apollo Hospitals' board has recommended a final dividend of ₹10 per share for FY2023-24. The record date for the final dividend is set for August 17, 2024. This decision underscores the company's commitment to delivering value to its shareholders.

Leadership Continuity

In addition to its financial results, Apollo Hospitals announced the re-appointment of Dr. Prathap C Reddy as a whole-time director, designated as Executive Chairman, for a two-year term starting June 25, 2024. This re-appointment is subject to shareholder approval and reflects the company's confidence in Dr. Reddy's leadership.

Operational Improvements

The hospital chain's operational performance improved significantly over the year, driven by reduced losses from its online subsidiary, Apollo HealthCo. This improvement highlights the company's successful efforts to enhance efficiency and profitability across its operations.

Stock Market Reaction

Despite the positive earnings report, shares of Apollo Hospitals closed 2.5% lower on May 30, settling at ₹5,761 apiece on the BSE. This decline may reflect broader market conditions rather than the company's individual performance.

Apollo Hospitals' robust financial results for Q4FY24, including a substantial increase in net profit and revenue, demonstrate its strong market position and operational efficiency. The company's strategic initiatives, such as the dividend announcement and leadership continuity, further reinforce its commitment to growth and shareholder value.