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Apollo Hospitals Q1 net profit dips 51% to Rs35 crore

LiveMint logoLiveMint 14-08-2017 PTI

New Delhi: Healthcare major Apollo Hospitals Enterprise on Monday reported a 51.21% dip in standalone net profit at Rs35.21 crore, mainly on account of rise in expenditure for the first quarter ended 30 June, 2017.

The company had reported a net profit of Rs72.17 crore for the corresponding period of previous fiscal, Apollo Hospitals Enterprise said in a BSE filing.

However, standalone income from operations of the company rose to Rs1,684.46 crore for the quarter under consideration as against Rs1,465.43 crore for the same period year ago.

The company’s board also took note of resignations of Habibullah Badsha, Raj Kumar Menon and Rafeeque Ahamed as independent directors with effect from today, Apollo Hospitals said.

The board has approved the appointment of BVR Mohan Reddy as an additional director with effect from 14 August, 2017 to hold office as an independent director, it added.

Shares of Apollo Hospitals Enterprise were trading 1.51% down at Rs1,197.90 on BSE.

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