Apollo Hospitals Enterprises has reportedly recorded a consolidated profit of Rs 134.16 crore in Q3FY21 against Rs 89.95 crore in Q3FY20 as per reports.
However, revenue of the enterprises has steadily declined to Rs 2,759.84 crore from Rs 2,911.74 crore YoY.
On February 15, the share price of the company climbed over 8 percent intraday post it’s declaration of Q3 results.
Further, the company stated in a regulatory filing that it has yielded a consolidated net profit of Rs 89.95 crore in the year-ago period.
Moreover, in the quarter under review, the company’s estimated revenue from operations were recorded at Rs 2,759.84 crore.
The highlight of the year’s third quarter was vigorous growth due to increased focus on non-covid patients.
Besides this, it particularly includes other non-communicable diseases which pose a substantial risk to the health of people.
Accordingly, total expenditure incurred in the current period were Rs 2,595.54 crore in comparison to Rs 2,776.46 crore in the year-ago period.
However, the stock was trading at Rs 2,974.20, up Rs 226.85, or 8.26 percent at 11:42 hours and reached a 52-week high of Rs 3,002.30.
A sudden expansion in volume by more than 2.09 times was also observed by the scrip.
Global research firm Credit Suisse has claimed that Q3 beat was due to strong margin in hospitals adding that Q3 beat lifts FY21 EPS estimate to Rs 6.10 from Rs 1.90.
It has in fact maintained the stock’s outperform rating to raise target to Rs 3,160 per share.
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