Apollo Hos­pi­tals net profit up 29%

Business Standard - - COMPANIES - BS RE­PORTER

Apollo Hos­pi­tals En­ter­prise (AHEL) has posted 29 per cent growth in net profit to ~86.93 crore dur­ing the quar­ter ended De­cem­ber 31, 2018, com­pared to ~67.44 crore dur­ing the same quar­ter of the pre­vi­ous fi­nan­cial year.

To­tal in­come grew 16.8 per cent to ~2,046.75 crore dur­ing the quar­ter, as against ~1,864.13 crore dur­ing the cor­re­spond­ing quar­ter a year ago.

San­jay Na­yar, mem­ber and CEO of KKR In­dia — an In­de­pen­dent Di­rec­tor of the com­pany since 2014 — has re­signed from the board with ef­fect from Fe­bru­ary 9. The com­pany, in a reg­u­la­tory fil­ing, said that Na­yar has ex­pressed his in­abil­ity to de­vote ad­e­quate time to the af­fairs of the com­pany go­ing for­ward, given his in­creased pro­fes­sional com­mit­ments. Com­pany of­fi­cials were im­me­di­ately not avail­able for a com­ment. Na­yar was ap­pointed to the post with ef­fect from Fe­bru­ary 10, 2014, af­ter the USbased Pri­vate Eq­uity player Kohlberg Kravis Roberts (KKR) has in­fused around Rs 550 crore in AHEL’s hold­ing com­pany PCR In­vest­ments in Oc­to­ber, 2013, which was ex­pected to be used to re­pay pro­mot­ers' debt and build more hos­pi­tals.

The com­pany on Satur­day said that it plans to trans­fer the front-end re­tail phar­macy busi­ness car­ried out in the stand­alone phar­macy seg­ment to a seper­ate en­tity.

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