Mumbai: Improved asset utilisation and a substanial rise in other income helped Apollo Hospitals Enterprise post a forecast-beating 45.5% jump in second quarter net profit.
India’s largest healthcare chain on Tuesday reported a net profit of Rs 495.5 million on net sales of Rs586 crore for July-September.
A Reuters’ poll had forecast a net profit of Rs 430 million on net sales of Rs559 crore.
“In this quarter, our asset utilisation has grown from 75% to 85%, which has reflected in rising revenue,” S. K. Venkataraman, chief financial officer, told Reuters over the telephone.
The hospitals operator’s other income rose to 68.4 million rupees in July-September from 20.9 million rupees a year ago.
“The other income basically includes the (foreign) exchange gains we had...” he added. At 2:27pm, shares of Apollo Hospitals were trading at Rs 531.6, up 1.18% in a firm Mumbai market.