Apollo Hospitals reports Q1 pre-tax loss of Rs 267 cr, revenue down 16%

The chain's health care services and clinics were under pressure during the quarter, while pharmacy biz showed positive growth in revenue and profitability

Apollo Hospitals’ consolidated loss before tax in the first quarter stood at Rs 267 crore, against profit before tax of Rs 94.4 crore, a year ago. Net loss during the quarter was Rs 208 crore, compared to a profit of Rs 57.2 crore, last year.

The company’s revenue declined 16 per cent to Rs 2,171.5 crore, from Rs 2,571.9 crore a year ago. The hospital chain’s health care services and clinics were under pressure, while pharmacy business clocked growth — both in revenue and profitability.

Standalone revenues of the health care services division declined 42 per cent to Rs 6,82.4 crore in Q1FY21, compared to Rs 11,72.5 crore in Q1FY20. Revenue of existing hospitals fell 47 per cent, while the revenues of new hospitals dipped 30 per cent.

Prathap C Reddy, chairman, Apollo Hospitals, said, “Apollo Hospitals has led from the front and demonstrated agility in continuing to serve both Covid and non-Covid patients. Our technology as well as safety and infection control protocols are of international standards.”