Apollo Hospitals, a Rs.4,100 crore healthcare provider from Chennai, has suffered setback during the third quarter ended December 2016 and its net profit declined sharply by 40.5 per cent to Rs.72.83 crore from Rs.122.33 crore due to higher interest burden and lower other income. However, its profit before depreciation, interest, tax and other income improved marginally by 4.5 per cent to Rs.194.08 crore from Rs.185.71 crore. With lower net profit, EPS declined sharply to Rs.5.23 from Rs.8.79 in the last period.

Its net income increased by 18 per cent to Rs.1,681 crore during the third quarter ended December 2016 from Rs.1,425 crore in the similar period of last year. Its income from healthcare services increased by 9.6 per cent to Rs.892 crore from Rs.814 crore and that from pharmacy increased by 29.1 per cent to Rs.789 crore from Rs.611 crore.

Its interest cost went up by 60.3 per cent to Rs.51.33 crore from Rs.32.03 crore. Its other income declined to Rs.3.08 crore from Rs.66.19 crore mainly due to inclusion of profit on sale of investments in the quarter ended December 2015 of Rs.46.77 crore held by the company in Alliance Dental Care Ltd and Apollo Dialysis Pvt Ltd to Apollo Health and Lifestyle Ltd.

Apollo Hospitals allotted 3,000 secured, redeemable non convertible debentures of the face value of Rs.10 lakh each aggregating to Rs.300 crore to banks and financial institutions on private placement basis.

Despite lower profit, Apollo scrip improved by Rs.23.20 to Rs.1241.75 on BSE in the afternoon session.

For the nine months ended December 2016, Apollo's net sales increased by 15.5 per cent to Rs.4,680 crore from Rs.4,140 crore in the same period of last year. However, its net profit declined by 20.8 per cent to Rs.237 crore from Rs.299 crore. Its interest cost went up sharply to Rs.142.59 crore from Rs.89.75 crore, a growth of 59 per cent and other income declined to Rs.16.76 crore from Rs.70.01 crore.