Apollo Hospitals’ Q2 Net Profit Soars by 63%

Apollo Hospitals Enterprise, a leading Indian healthcare provider, has reported impressive second-quarter results, surpassing profit expectations. The company's consolidated net profit rose by nearly 63% year-on-year to US$45m for the quarter ending 30th September, exceeding analysts' projections of US$43m.

The Chennai-based hospital chain's strong performance was driven by increased demand for its healthcare services and strategic investments in advanced technologies. 

Apollo Hospitals report 15% revenue growth in Q2 with rising occupancy and digital health profitability

As of September's end, Apollo Hospitals operated 7,994 beds, with overall occupancy rising to 73% from 68% in the previous year.

Key highlights of Apollo Hospitals' Q2 performance include:

• Overall revenue increased by 15% to 55.89bn rupees (US$664m), slightly above analysts' expectations of 55.13 bn rupees (US$655m).
• This segment, contributing over half of the total revenue, saw a 14% increase, bolstered by higher surgery volumes in oncology and neurology.
• The company's digital health division, including the 'Apollo 24/7' platform, turned profitable with earnings of 389m rupees (US$4m), compared to a loss in the previous year.
• The company expects its pharmacy vertical to break even within the next five to six quarters.

Apollo Hospitals' shares remained stable following the results announcement, having gained approximately 16% during the September quarter.

"At Apollo Hospitals, we are dedicated to continually evolving to meet the changing healthcare needs of our nation. Through strategic initiatives like our investment in Apollo Health and Lifestyle and the launch of new multi-specialty hospitals," said Dr. Prathap C Reddy, Founder & Chairman, Apollo Hospitals Group, who we included in our Top 10: Leaders in Healthcare in APAC.

Monash and Apollo Hospitals to advance digital health research

A Memorandum of Understanding has been signed between Australia’s biggest university, Monash and Apollo Hospitals. Monash’s Faculty of Information Technology will lead learning sessions for the Hospitals’ healthcare professionals, while Faculty of IT students will be able to apply what they have learned with Apollo Hospitals. 

The collaboration between Monash University and Apollo Hospitals will facilitate access to de-identified health data from over 200m patients, providing Monash with valuable insights. This extensive dataset will significantly advance research efforts, particularly in training AI algorithms to identify and diagnose major global health concerns such as cancer, heart disease and diabetes.

Beyond data sharing and educational initiatives, the partnership aims to establish a recurring multinational Health AI event. This forum will serve as a platform for participants to exchange research findings, discuss results, and address common challenges in the field of health AI. This collaborative approach is expected to foster innovation and accelerate progress in tackling some of the world's most pressing health issues.

Professor Chris Bain, Digital Health lead at the Faculty of IT at Monash, shared that he saw the potential to advance digital health innovation and research across the two countries.

“We are delighted with the opportunity this provides both Apollo Hospitals and ourselves to implement first-ever digital health projects in Australia by leveraging the extensive learnings and practical experience at Apollo Hospitals,” he said. “In particular we are keen to locally test and cross-validate the exciting clinical AI work being done by the team at Apollo Hospitals.”

"We at Apollo Hospitals are doing some cutting edge work on clinical AI and its safe implementation. We are very excited at what this new partnership with Monash FIT will bring as part of our global collaborations in this space," shared Dr Kar, of Apollo Hospitals. 

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