Apollo Hospitals Sees Weak March 2013 Quarter

Healthcare giant Apollo Hospitals Enterprises has announced its March 2013 quarter results. On a standalone basis, the company has witnessed muted results for Q4FY13 on a YoY basis.

The topline grew by 13.9% to stand at Rs. 848.30 crore as compared to that of Rs 744.60 crore in Q4FY12. The EBITDA came in 10.6% higher at Rs 132.8 crore as against Rs 120 crore in Q4FY12. The EBITDA margins stood at 15.65%. witnessing a drop of 46 basis points on a YoY basis.

The PAT stood at Rs 75.52 crore as against Rs 59.32 crore in Q4FY12, a growth of 27%. But the catch here is that if we remove the tax benefit of Rs 11.39 crore and the Extraordinary Income of Rs 4.54 crore, the PAT stood at Rs 59.6 crore, which is only slightly higher than the Q4FY12 figure. (The company availed a tax benefit under SEC 35AD for its new project at Ayanambakkam, Chennai that commenced operations in Q4).

Following this bad set of numbers, the stock dipped by 6.71% to close the day at Rs 996. The company has recommended a dividend of Rs 5.50 per share, taking the dividend yield to 0.55%. More details on the same will be available after the earnings call by the company on May 21.