Surging Profits of Apollo Hospital Enterprises
It has been reported that the quarterly net profits of Apollo Hospital Enterprises have increased by 31% for the year 2011. The enterprise booked a commendable profit through its outstanding sales of 6.48 billion rupees. Moreover, the total income of the Company rose to Rs 641.01 crore for the quarter ended June 30, 2011 as against Rs 523.29 crore for the corresponding period last fiscal.
The Chief Financial Officer of Apollo Hospitals, Mr. A. Krishnan informed that booking a profit was not an easy task for the Enterprise. It has been revealed that to book a profit, the Enterprise closed down its 26 non-performing pharmacy stores in April-June. He said, "There was a certain slowdown in hospitals business but still we have managed to post strong numbers. Going forward, we see this business accelerating further".
Although the Enterprise booked a recognizable profit, its shares in the Indian market tumbled down drastically. It has been reported that on Wednesday, the shares of Apollo Hospitals Enterprise closed at 512.10 rupees, down 0.67%, after booking 10% gain in the last three months. However, in the coming 12 months, the Company is aiming to increase its profits by 3 to 4%.