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.