Apollo Hospitals Enterprise Ltd (AHEL), (BSE: 508869, NSE: INE437A01024), the leading Healthcare provider of quality clinical care reported its consolidated financial results according to Indian GAAP for the quarter and nine months ended December 31, 2012.
Commenting on the performance, Dr. Prathap C Reddy, Chairman said, “We are pleased to report continued growth and operating improvements in Q3 driven by sustained focus on clinical excellence. We continue to pioneer the introduction of technology based treatment in India with our plan to set up the first ever Proton Therapy Center in the region at Chennai. This new facility will offer patients across Asia, Africa and Australia the most advanced radiation therapy technology and enhance Apollo Hospitals’ ability to provide superior cancer treatment.
He added, “The improving performance of our pharmacies business is contributing to balanced growth. The sale of our stake in Apollo Health Street has also strengthened our balance sheet as we are embarking on a never before expansion plan with 14 hospitals scheduled to be added to our network over the next 30 months.”
Financial Highlights
• Standalone Q3FY13 Performance
o Revenues grew 19.7% to Rs. 8,558 million compared to Rs. 7,148 million in Q3FY12.
o EBITDA grew 20.5% to Rs. 1,464 million as against Rs. 1,215 million in Q3FY12.
o PAT was Rs. 806 million vs. Rs. 647 million in Q3FY12, growth of 24.7%.
o Diluted EPS of Rs. 5.80 per share in Q3FY13 (not annualised)
• Standalone 9MFY13 Performance
o Revenues grew 20.1% to Rs. 24,695 million compared to Rs. 20,555 million in 9MFY12.
o EBITDA grew 22.2% to Rs. 4,208 million as against Rs. 3,444 million in 9MFY12.
o PAT was Rs. 2,336 million in 9MFY13 vs. Rs. 1,717 million in 9MFY12.
o Diluted EPS of Rs. 16.79 per share in 9MFY13
• Consolidated Q3FY13 Performance*#
o Revenues grew 22.2% to Rs. 9,809 million compared to Rs. 8,029 million in Q3FY12.
o EBITDA grew 18.9% to Rs. 1,587 million as against Rs. 1,335 million in Q3FY12.
o PAT was Rs. 746 million vs. Rs. 610 million in Q3FY12, growth of 22.2%.
o Diluted EPS of Rs. 5.36 per share in Q3FY13 (not annualised)
• Consolidated 9MFY13 Performance*#
o Revenues grew 22.2% to Rs. 28,242 million compared to Rs. 23,111 million in 9MFY12.
o EBITDA grew 22.8% to Rs. 4,687 million as against Rs. 3,815 million in 9MFY12.
o PAT was Rs. 2,351 million in 9MFY13 vs. Rs. 1,741 million in 9MFY12.
o Diluted EPS of Rs. 16.90 per share in 9MFY13
* The Consolidated financials are unaudited management estimates
# Apollo Health Street financials have not been considered in the consolidated financials after the Share Purchase agreement for the divestiture has been signed with Sutherland.
Operating Highlights
• Standalone Pharmacies continued to report stellar growth – Q3 revenues grew 29.3% on a y-on-y basis to Rs. 2,905 million –aided by robust same store sales growth, focus
on private labels and renewed momentum in expansion of the pan-India network of stores.
• Apollo Hospitals has signed a definitive agreement with Sutherland Global Services (SGS) under which SGS will acquire a 100% stake in Apollo Health Street (AHS). The listed entity, AHEL, holds a 39% stake in AHS; the balance being held by promoters, Institutional Investors & Minority Shareholders. The deal is expected to close in Feb 2013 subject to regulatory and other conditions.
• Apollo Hospitals has announced plans to establish a Proton Therapy Center in Chennai. The center, with an approximate investment of Rs. 400 crores, is designed with state-of-the-art technology, Proteus®PLUS from IBA (Ion Beam Applications S.A.) to provide best-in-class treatment for cancer treatment.
Awards & Achievements
• Apollo Hospitals was voted the No. 1 private hospital in India (Week – HANSA Best Hospital Survey, 2012).
• Apollo Hospitals bagged the ‘Asia Responsible Entrepreneurship Awards’ (AREA) South Asia 2012 under two categories organized by Enterprise Asia on 13th December in New Delhi. Group Chairman, Dr. Prathap Reddy won the prestigious Responsible Business Leader Category and Billion Hearts Beating Foundation won the praiseworthy Health Promotion Award.
• Indraprastha Apollo Hospitals won the “Times Research Media Healthcare Excellence Awards 2012” on 26th December 2012, in three categories - India's most innovative hospital, best diagnostic and imaging centre in North India and best heart care centre in North India.
