CHENNAI: The consolidated revenues of Apollo Hospitals crossed the $1 billion mark in 2016-17 jumping 17% year-on-year (y-o-y) to Rs. 7255 crore. Profit after tax (PAT) however declined 7.2% y-o-y to Rs. 216 crore during the year. “FY17 (2016-17) has been a monumental year. In addition to surpassing the milestones of 10000 beds and a billion dollars in revenues this fiscal, the group has made significant progress by adding new capacity and by upgrading existing facilities,” said Dr. Prathap C Reddy, chairman, Apollo Hospitals.
Consolidated revenues increased 15% y-o-y to Rs. 1833 crore during the fourth quarter (Q4) of 2016-17. PAT surged 189% y-o-y to Rs. 55.5 crore during Q4. “The demonetisation effect extended into this quarter as well, as outstation patients and patients from neighbouring countries found it difficult to access currency for their treatment requirements,” the hospital said. “The patient flows into Chennai main (hospital) post the VIP admission took some time to recover fully which also impacted the quarter. The impact of the above incidents resulted in a revenue drop of Rs. 15-20 crore,” Apollo said.
