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Apollo Hospitals Q3 net up marginally; lags forecast

Apollo Hospitals Q3 net up marginally; lags forecast
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First Published: Fri, Feb 11 2011. 01 06 PM IST
Updated: Fri, Feb 11 2011. 01 06 PM IST
Mumbai: India’s largest healthcare firm by capacity, Apollo Hospitals Enterprise, saw a marginal rise in quarterly profit, lagging street estimates, on higher consumption costs and a dip in other income.
The hospitals operator on Friday reported a net profit of Rs458.1 million for October-December on net sales of Rs601 crore.
A Reuters’ poll of 21 brokerages had forecast a December quarter net profit of Rs509.67 million on net sales of Rs638 crore for Apollo Hospitals.
Apollo’s material consumption in the quarter rose 25% on year to Rs184 crore while other income fell 52.3% to Rs50.8 million, it said in a filing to the BSE.
Interest costs also rose 57.6% on year to Rs133.5 million.
At 1:33 p.m., shares of Apollo Hospitals were trading at Rs458.10, up 0.75% in a volatile Mumbai market.
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First Published: Fri, Feb 11 2011. 01 06 PM IST