Putting out Apollo Hospitals reports Q3′ FY21 earnings the hospital group indicated a strong recovery in healthcare services with 17 per cent Q-o-Q growth in revenue. For the Q3 ‘FY21 standalone revenues degrew by six per cent to Rs.23,670 mn compared to Rs.25,295 mn in Q3’ FY20, aided by growth in healthcare services degrowth of four per cent YoY and SAP business degrowth of nine per cent.
EBITDA (Pre Ind AS 116) was at Rs 3,012 mn in Q3FY21 as against Rs 3,195 mn in Q3FY20 YoY degrowth of six per cent. PAT grew by 12 per cent to Rs.1,062 mn in Q3FY21.
Pharmacy business degrew by nine per cent to Rs 11,263 mn as against Rs 12,326 mn in Q3FY20. Healthcare services degrew four per cent YoY, mature hospitals degrew by eight per cent YoY and new hospitals grew seven per cent.
Dr Prathap C Reddy, Chairman, Apollo Hospitals Group said, “The first three quarters of the year have been a period of resilience and recovery for Apollo Hospitals. It is a testament to the strong foundation laid over our 37 years of experience in healthcare that we have been able to emerge stronger than ever before despite the challenges due to the COVID pandemic. The third quarter of the year saw robust growth as we increased focus on non-Covid patients, especially NCDs, which pose a substantial risk factor to the health of the people. This was also a result of our successful efforts in educating our patients on the risks of ignoring symptoms and addressing their fears of visiting a hospital during the pandemic. We were very clear that we would continue to leverage not just the latest medical technologies at our disposal, but also invest in new developments harnessing AI, ML, and big data to benefit our patients.”
Talking about the multiple collaborations during the quarter, Reddy said,” We collaborated with Tata Medical and Diagnostics to introduce TataMD CHECK diagnostic test for COVID-19 in the country. This is the world’s first CRISPR Cas-9-based diagnostic test and gives faster and accurate results as compared to the conventional tests. We continued to be the torchbearer in the adoption of digital technology as the first hospital group in South Asia to use AI for comprehensive stroke management and joined hands with Medtronic – a world leader in neuro-interventional devices to transform stroke treatment in the country.”
Highlighting the launch of the first-of-a-kind knee replacement programme in Bengaluru offering specialised partial and total knee replacement care with the use of advanced robotic technology, the NAVIO surgical system, Reddy informed that it will help in address the rising health concern of osteoarthritis, a painful crippling condition. Our hospital in Indore became the first-day care centre in the country for both knee and hip replacement that allows the patient to be discharged on the same day.
On the vaccination front, Apollo Hospitals have 27 vaccination centres operational already, poised to leverage the strength of our robust pan India network of 19 medicine-supply hubs with cold chain facilities and our 70 hospitals, 400+ clinics, 500 corporate health centers, 4000 pharmacies alongside the Omni channel digital platform Apollo 24|7 to ensure safe, comprehensive delivery and efficient and fast administration of vaccines with the highest safety standards.
“Our successful QIP fundraise is an acknowledgment of the faith of investors in our strong business fundamentals and strategy, and we shall continue to work to deliver growth and leverage opportunities in the healthcare industry to maintain our leadership position. In addition, three of the top five hospitals and five of the top 20 in the National rankings are part of the Apollo Hospitals group. Even at the regional level, the top three in the South, the leader in the North, two among the top three in the East and one among the top 15 in the West belong to the Apollo Hospital group,” Reddy added.