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(Photo: Mint)
(Photo: Mint)

Covid-19 impact: Apollo Hospitals Q1 net loss at 226 cr

However, revenue from operations increased to 2,171 crore in the quarter under review from 2,572 crore in the year-ago period

New Delhi: Apollo Hospitals Enterprise on Monday reported a consolidated net loss of 226.24 crore for the quarter ended June 30, 2020 on account of the impact of COVID-19 pandemic.

The company had posted a net profit of 49.15 crore for the year-ago same period, Apollo Hospitals said in a filing to BSE.

Revenue from operations stood at 2,171.50 crore in the quarter under review. It was 2,571.89 crore in the year-ago period, it added.

"The new financial year began with global healthcare services rising to the challenge of the COVID-19 pandemic. Economies faced financial upheavals due to business coming to a standstill as the world went into a lockdown," Apollo Hospitals Group Chairman Prathap C Reddy said.

As the nation begins unlocking, "we are confident of weathering the initial setbacks that we faced due to the lockdowns," he added.  

The healthcare services revenue of the company stood at 795.27 crore in the quarter ended June 30, 2020 as against 1,358.55 crore in the same period a year ago.

The pharmacy business of the company on the other hand grew to 1,279.15 crore in June quarter as against 1,056.84 crore in the year-ago same period, the filing said.

In June, Apollo Hospitals had said the COVID-19 pandemic has had a material impact on the company's healthcare services business operations, though its standalone pharmacy business continued to show growth momentum.

As on June 30, Apollo Hospitals had 7,267 operating beds across the network (excluding AHLL and managed beds), out of which 14 were new hospitals with 2,020 operating beds, the filing said.

Shares of Apollo Hospitals Enterprise settled at Rs 1,623 per scrip on BSE, up 0.72 per cent from the previous close.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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