Apollo Hospitals posts ~267 crore loss in June qtr

Apollo Hospitals’ consolidated loss before tax in the first quarter stood at ~267 crore, against profit before tax of ~94.4 crore, a year ago. Net loss during the quarter was ~208 crore, compared to a profit of ~57.2 crore, last year.

The company’s revenue declined 16 per cent to ~2,171.5 crore, from ~2,571.9 crore a year ago. The hospital chain’s health care services and clinics were under pressure, while pharmacy business clocked growth — both in revenue and profitability.

Standalone revenues of the health care services division declined 42 per cent to ~6,82.4 crore in Q1FY21, compared to ~11,72.5 crore in Q1FY20. Revenue of existing hospitals fell 47 per cent, while the revenues of new hospitals dipped 30 per cent.

Prathap C Reddy, chairman, Apollo Hospitals, said, “Apollo Hospitals has led from the front and demonstrated agility in continuing to serve both Covid and non-covid patients. Our technology as well as safety and infection control protocols are of international standards.”