6 September 2022, 7 min read
The Indian multinational healthcare group, Apollo Hospitals Enterprise Ltd, announced its financial results for the first quarter of FY23 on 11th August 2022. The company reported its profit after tax (PAT) at Rs. 317.11 crore in Q1 FY23, down 35.19% YoY (year on year) from Rs. 489.28 crore in Q1 FY22. However, there was a 251.8% QoQ (quarter on quarter) increase in the profit from Rs. 90.14 crore in Q4 FY22.
The decline in profits of Apollo Hospitals on a YoY basis can be attributed to an increase in the company’s total expenses, including a rise in the cost of material consumed, employee benefit expenses, depreciation and amortisation expenses, as well as other expenses of the company. Apollo Hospitals also saw an increase in its current tax liability during the quarter.
However, the company recorded a marginal increase in its revenue from operations, which stood at Rs. 3,795.60 crore in Q1 FY23, up 0.94% YoY from Rs. 3,760.21 crore in Q1 FY22.
Revenue from operations stood at Rs. 3,795.60 crore in Q1 FY23, up 0.94% YoY.
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