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Business News/ Companies / News/  Apollo Hospitals says occupancies improving post easing of lockdown restrictions
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Apollo Hospitals says occupancies improving post easing of lockdown restrictions

Apollo Hospitals says the lockdown had caused ‘a material impact’ on the healthcare industry in general due to severe travel-related restrictions

Apollo Hospitals had reported a net profit of Rs72.17 crore for the corresponding period of previous fiscal. Photo: MintPremium
Apollo Hospitals had reported a net profit of Rs72.17 crore for the corresponding period of previous fiscal. Photo: Mint

NEW DELHI : After the covid-19 lockdown severely hit various industries, including the healthcare sector, Apollo Hospitals Enterprise Ltd on Tuesday said that easing of restrictions has led to an improvement in occupancies across the company’s hospital network.

“We are still evaluating the full impact of the current situation on our business and will continuously calibrate our responses to the COVlD-19 situation as it evolves. We would like to however state that patient caseloads and occupancies across our hospitals network have witnessed improvements post easing of lockdown related restrictions," Apollo Hospitals Enterprise said in a filing with exchanges.

Apollo Hospitals, the largest private hospital chain in the country, said that the lockdown had caused “a material impact" on the healthcare industry in general due to severe travel-related restrictions hitting, both, employee movements and patient flows, as well as the embargo on international travel, which led to a drop in medical tourism to India.

Postponement of elective surgeries and a reduction in footfalls at out-patient department also hit the healthcare industry.

Meanwhile, hospitals had to make continued investments equipment, consumables and other resources, at a time when revenue was down, Apollo Hospitals said.

The company said that it is undertaking certain actions with its vendors and suppliers for providing waivers and deferment of some contractual payouts, which would help improve its cash flow and profitability.

The hospital chain said that it revises its treatment protocols every week based on latest evidence published in peer-reviewed journals, as well as guidelines issued by the World Health Organization, the Indian and state governments.

However, the company’s pharmacy chain has not seen an impact from the covid-19 pandemic and subsequent lockdown.

“Our standalone pharmacy segmental revenues and business performance were not impacted during the lockdown, and continue to show growth momentum," the company said.

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Published: 09 Jun 2020, 08:10 PM IST
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