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Apollo Hospitals quarterly results impact on share price: Stock falls 3% – what should investors know?
Apollo Hospitals quarterly results impact on share price: The consolidated net profit of the healthcare chain declined by 35.33 per cent to Rs 323.78 crore in the first quarter of FY23 amid higher expenses and marginal revenue growth.
Apollo Hospitals quarterly results impact on share price: Shares of Apollo Hospitals Enterprise slumped 3.5 per cent to Rs 4280 apiece on the BSE intraday during Friday’s trading session after the company reported poor results in the June-end quarter of the financial year 2022-23 (Q1FY23). The stock also cracked more than 3 per cent on the Nifty to trade below Rs 4,300 per share.
The consolidated net profit of the healthcare chain declined by 35.33 per cent to Rs 323.78 crore in the first quarter of FY23 amid higher expenses and marginal revenue growth, as compared to Rs 500.68 crore in the same period last fiscal, Apollo Hospitals Enterprise Ltd said in a regulatory filing.
Consolidated revenue from operations during the June quarter of FY23 stood at Rs 3,795.6 crore as against Rs 3,760.21 crore in the year-ago period, the hospital chain company added.
The healthcare services vertical clocked a revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year, while the clinics' segment revenue was lower at Rs 293.01 crore as compared to Rs 309 crore in the year-ago quarter, the company said.
At around 11 AM, the stock is trading over 2.5 per cent lower to Rs 4316.9 and Rs 4314.35 per share on the BSE and NSE as compared to 0.06 and 0.1 per cent rise in the Sensex and Nifty respectively.
In the last one year and year-to-date, the stock has underperformed the market, as it has been up over 4 per cent and down over 13 per cent as compared to over 8 and 0.35 per cent rise in the BSE Sensex respectively, during the same period.
The counter in the last one month surged almost 10 per cent against a 10 per cent rise in the S&P BSE Sensex too during the same duration.
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