Apollo Hospitals surges in Q3FY24 with stellar performance and innovative health initiatives

Apollo Hospitals has once again demonstrated exceptional performance in the third quarter of the fiscal year 2024, marking a period of significant advancements in healthcare services and financial growth. The consolidated revenue saw a 14% year-over-year increase, reaching Rs 4,851 crore, with EBITDA growing by 21% and PAT soaring by an impressive 60%. This financial upturn underscores Apollo’s successful operational strategies and its commitment to enhancing healthcare delivery.

In a notable stride towards preventive healthcare, Apollo Hospitals launched the Paediatric ProHealth Programme, aimed at combating the rise of non-communicable diseases among children. This initiative reflects Apollo’s holistic approach to healthcare, prioritizing early detection and comprehensive care to address the growing health challenges faced by the younger population.

Apollo Hospitals has also established itself as a pioneer in cancer treatment with the successful completion of the CAR-T cell program, making it the first private hospital group in India to offer ‘Made in India’ CAR-T cell therapy. This milestone, along with the inauguration of India’s first AI-Driven Precision Oncology Centre in Bengaluru, highlights Apollo’s dedication to incorporating advanced technology and research in providing cutting-edge cancer care.

The company’s strategic partnership with the Steel Authority of India Limited (SAIL) led to the inauguration of a 290-bed multi-specialty hospital in Rourkela, emphasizing Apollo’s asset-light model and its focus on expanding quality healthcare infrastructure across India. The interim dividend declaration of Rs 6 per share (120%) further reflects the company’s robust financial health and its commitment to rewarding shareholders.

Apollo’s initiatives, such as the Pediatric ProHealth Programme and the launch of AI-driven precision oncology care, not only set new benchmarks in healthcare innovation but also underscore its leadership in addressing the comprehensive health needs of diverse patient demographics.

The company’s focus on digital transformation, sustainability, and preventive healthcare positions it at the forefront of India’s healthcare evolution, promising enhanced patient outcomes and continued growth in the industry.

Dr. Prathap C Reddy, the Chairman of Apollo Hospitals Group, emphasized the organization’s dedication to promoting a healthier nation through a strong focus on preventive healthcare. He stated that their goal is to empower individuals to protect their health and prevent Non-Communicable Diseases (NCDs), which claim 5.8 million lives annually in the country. He highlighted that with one in four Indians at risk of such diseases before the age of 70, Apollo’s ProHealth program is designed as a comprehensive solution for personalized prevention. By leveraging medical expertise and Artificial Intelligence, the program assesses overall health, identifies risks, and guides individuals towards personalized wellness plans, providing tools and insights for proactive health decisions.

He further expressed that Apollo’s vision is to embed preventive healthcare into the daily lives of all Indians. This ambition, he clarified, transcends business objectives and represents a commitment to the nation’s health. He called for collective efforts to create a future where families can thrive, protected from the increasing threat of non-communicable diseases.

Apollo Hospitals’ Q3FY24 performance is a testament to its enduring legacy of medical excellence and innovation. As the company continues to navigate the complexities of modern healthcare challenges, its unwavering commitment to improving lives through advanced medical practices and sustainable solutions remains clear. Apollo Hospitals is not just shaping the future of healthcare in India but also setting a global standard for excellence and innovation in the field.