Apollo Hospitals has reported a consolidated profit after tax of Rs 489 crore for the June quarter of FY22. The healthcare major had reported a net loss of Rs 208 crore in the April-June quarter of 2020-21
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Apollo Hospitals Enterprises share price jumped more than 5 percent in the morning session on August 16 after the company reported consolidated profit after tax (PAT) at Rs 489 crore for the June quarter of the financial year 2021-22. The healthcare major had reported a net loss of Rs 208 crore in the April-June quarter of 2020-21.
Its consolidated revenues for the June 2021 quarter stood at Rs 3,760 crore as compared with Rs 2,171 crore in the first quarter of the previous fiscal, Apollo Hospitals Group said in a statement on August 13.
The stock was trading at Rs 4,299.25, up Rs 239.05, or 5.89 percent. It has touched a 52-week high of Rs 4,319.90. It has touched an intraday high of Rs 4,319.90 and an intraday low of Rs 4,139.45.
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The scrip was trading with volumes of 59,285 shares against its five-day average of 21,087 shares, an increase of 181.14 percent.
Global research firm CLSA has upgraded the stock to outperform from sell and has raised the target to Rs 4,420 from Rs 2,900 a share. The company posted a strong Q1 despite higher-than-expected contribution from COVID services. Big valuation surprise would be required to drive significant upside, it said, according to a CNBC-TV18 report.
“COVID-19-linked services boost EBITDA and profit. We raise our FY22-24 EBITDA estimates by 8-13 percent. Strong quarter for pharmacy and new hospital occupancy is at a record high. Value unlocking for the healthcare technology platform is on track,” it added.
Credit Suisse has an outperform call on the stock and has raised the target to Rs 4,800 from Rs 3,850 a share. It is of the view that the induction of strategic and financial partners should increase the pace of customer addition. Scaling up of generic medicine can add 40 percent to offline pharmacy EBITDA, while the pace of diagnostic expansion is strong, it said.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.
