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Apollo Hospitals drops 5% as reorganisation of pharma biz drags Q4 profit down 46% YoY, Health News, ET HealthWorld

May 26, 2022
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Apollo Hospitals drops 5% as reorganisation of pharma biz drags Q4 profit down 46% YoYShares of Apollo Hospitals Enterprises declined 4.5 per cent in early trade on Thursday after the hospital chain firm said its consolidated profit after tax (PAT) declined by 46 per cent year-on-year (YoY) to Rs 90 crore for the fourth quarter ended on March 31, 2022.

The health care provider had reported a PAT of Rs 168 crore in the January-March quarter of 2020-21 fiscal.

The decline in net profit was due to provision for capital gains tax of Rs 88.2 crore relating to the reorganisation of its pharmacy distribution business.

Apollo Hospital’s scrip fell to a low of Rs 3,365.90 as against Rs 3,525.75 at the previous close on the BSE. The stock was last trading 1.5 per cent lower.

As part of the restructuring, Apollo Pharmacy distribution business was re-organized into a 100 per cent subsidiary of Apollo HealthCo along with Apollo 24/7 – the group’s digital healthcare services platform, reports said.

Apollo HealthCo is now the group’s omnichannel digital healthcare platform providing a continuum of care across primary care, diagnostics, pharmacy distribution and condition management services with a vision to achieve over $3 billion in GMV in the next 3 years, the company stated.

If not for the one-time provisioning, its net profit rose 6 per cent YoY to Rs 178 crore in Q4FY22, said Apollo.

The healthcare provider reported 168 crore in the same period of the previous year. Revenues grew 24 per cent to Rs 3546.4 crore in Q4FY22 compared to Rs 2868 crore in Q4FY21.

The company attributed the profit and revenue growth to higher volumes, enhanced clinical mix and better payor-mix.

The earnings before interest, tax, depreciation and amortisation (EBITDA) grew 12 per cent to Rs 463.2 crore versus Rs 411.8 crore in Q4FY21. Healthcare services grew 21 per cent YoY to Rs 1863 crore in Q4FY22.

The pharmacy and retail health business grew by 23 per cent to Rs 1374.5 crore as against Rs 1118.7 crore in Q4FY21.





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