Apollo Hospitals Q4 Results: Profit Falls On Higher Tax Outgo

Apollo Hospitals Enterprise Ltd.’s fourth-quarter profit fell, missing estimates, on higher tax outgo.

The Chennai-headquartered healthcare group, which replaced Indian Oil Corp. Ltd. in the Nifty 50 index from March 31, reported a net profit of Rs 90 crore in the three months ended March, down 46% over a year earlier, according to its exchange filing. That compares with the Rs 181-crore consensus estimate of analysts tracked by Bloomberg.

Tax outflow nearly doubled to Rs 138.7 crore.

Q4 FY22 Highlights (YoY)

• Revenue rose 24% to Rs 3,546 crore, compared with the Rs 3,243-crore estimate.

• Ebitda was up 12% to Rs 463 crore, against the Rs 470-crore forecast.

• Margin contracted to 13.1% from 14.4%. Analysts had projected it at 14.5%.

The board has recommended a dividend of Rs 11.75 per share.

Shares of Apollo Hospitals closed 2.94% lower before the results were announced, compared with a 0.56% decline in the benchmark Sensex.