Apollo Hospitals posts 27.3% in Q4 net profit
Chennai-based Apollo Hospitals posted a 27.3% rise in its fourth-quarter stand alone net profit, helped by exceptional items and a tax benefit.
CHENNAI: Chennai-based Apollo Hospitals posted a 27.3% rise in its fourth-quarter stand alone net profit, helped by exceptional items and a tax benefit.
The company reported a net profit of Rs 75.5 crore, compared with Rs 59.3 crore in the same period last year. The net profit included a gain of Rs 4.5 crore from sale of its equity in Apollo Health Street to Sutherland. The company also had a minimum alternative tax benefit of Rs 11.39 crore.
The company's standalone revenue grew 13.9% to Rs 848.3 crore in the fourth quarter from Rs 744.6 crore in the same quarter last year. Revenue from hospital division (consisting of hospital services, hospital-based pharmacies and consulting)rose 10.9% to Rs 562.68 crore from 507.01 crore.
In a statement, Prathap C Reddy, chairman of Apollo Hospitals, said the company is set to commission 1,000 beds across seven locations in fiscal 2014.
In the fourth quarter, US-based private equity fund Apax Partners sold its nearly 10% stake in the company and exited its over five year investment in the company.
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