Apollo Hospital Enterprises has posted satisfactory performance during the fourth quarter ended March 2013 and its standalone net profit improved by 27.3 per cent to Rs.75.52 crore from Rs.59.32 crore in the corresponding period of last year despite significant higher interest burden. However, the lower tax provision of Rs.16.71 crore as against Rs.27.60 crore in the previous period assisted well. Its standalone net income improved by 13.9 per cent to Rs.848.29 crore from Rs.744.56 crore. EBDITA improved by 8.6 per cent to Rs.137.35 crore from Rs.126.49 crore.
Despite better financial performance during the fourth quarter, Apollo Hospital scrip declined sharply by over 6.5 per cent or Rs.69.85 on BSE to Rs.997.90 in the afternoon session today. The board of directors has recommended equity dividend of 110 per cent (Rs.5.50 per share) for the year 2012-13.
The company allotted 13.82 lakh equity shares of face value of Rs.5 each to International Finance Corporation, Washington at a price of Rs.302.50 per share upon conversion of balance FCCB loan amount of US$7.5 million. Consequent to the allotment, its paid up equity share capital increased to Rs.67.92 crore from Rs.67.23 crore. Further, the company allotted 32.77 lakh equity shares to Dr Prathap C Reddy, promoter of the company, at a price of Rs.472.46 per share, upon conversion of share warrants allotted to him on February 5, 2011.
Its income from healthcare services increased by 11 per cent to Rs.562.68 crore during the quarter under review from Rs.507.01 crore and that of healthcare services moved up 20.3 per cent to Rs.285.87 crore from Rs.237.72 crore. The company has sold the assets related to seven of its clinics to its 100 per cent subsidiary as a slump sale.
Dr Prathap C Reddy, chairman, said, “Our focus on Patient Service having Clinical outcomes as the nucleus is not only a way of life but a reason for our existence, this is supplemented by our robust DNA of operational excellence thereby enabling us to ensure consistent and Industry leading financial performance for over three decades. Going beyond continuous improvement, we have looked at value addition and innovation in all that we do.”
“Aligned with the Disease burden of the nation, we have built a scientific expansion strategy of commissioning over 1,000 beds across seven locations in the coming year. Internal resources have also been upgraded to execute on this plan on time and on budget. This would add to our commendable achievement that we just passed of touching a million patients per Quarter,” he added.
Suneeta Reddy, joint managing director stated “Ahead of the impending legislation on CSR, I am delighted to state that our allocation towards multiple community programmes such as SACH (Save a Childs Heart), exceeds the proposed 2 per cent.”
For the full year ended March 2013, Apollo's consolidated net profit increased sharply by 39.4 per cent to Rs.294.04 crore from Rs.211.01 crore in the previous year. Its consolidated net sales improved by 19.7 per cent to Rs.3,769 crore from Rs.3,148 crore. EBDITA surged by 18.4 per cent to Rs.638.37 crore from Rs.539.02 crore. EPS worked out to Rs.21.62 for the full year as against Rs.16.83 in the previous year. Its consolidated total borrowings went up by 51.7 per cent to Rs.1,137 crore from Rs.749.37 crore and its fixed assets amounted to Rs.2,599 crore from Rs.2,085 crore, a growth of 24.6 per cent.