Apollo Hospitals at fresh high

Following strong results for Q1FY20, shares of Apollo Hospitals Enterprise hit a fresh 52-week high at Rs. 1,444.00 on Wednesday and were trading higher by more than 4 per cent at Rs. 1,382.00.

The stock is riding higher on the back of stellar quarter results. Apollo Hospitals has reported a rise of 32 per cent in its net profit at Rs. 79.30 crore for Q1FY20 as compared to Rs. 60.20 crore for the same quarter in the previous year. Revenue has also soared 17 per cent to Rs. 2,229.20 crore as compared to Rs. 1,910.40 crore in the same quarter last fiscal.

The healthcare major impressed the markets with the operational performance of its healthcare and pharmacy services. The company has reported 25 per cent rise in its EBITDA at Rs. 231.50 crore. Moreover, the overall EBITDA margins have improved to 12.3 per cent this quarter as against 11.86 per cent in Q1FY19.

The company is optimistic about improving its margins further to 23 per cent in the first half of FY21. It has also mentioned that its new hospitals are expected to mark increase in volumes and utilisation, going forward.

On a consolidated basis, Apollo Hospitals has reported a 69 per cent increase in net profit to Rs. 57 crore for the June quarter compared to Rs. 34 crore for the corresponding quarter last year. Revenue jumped by 16 per cent to Rs. 2,572 crore against Rs. 2,210 crore in the same quarter last year.

The shares of the company on Wednesday opened at Rs. 1,385.00 against Tuesday's close of Rs. 1,322.00. The stock hit an intraday low was Rs. 1,374.35. Its 52-week low was Rs. 997.50 per share on the BSE.