Occupancy ramp-up slower than expected
Overall occupancy at 62% remains below the 70% target, with new hospitals at 60% and some regions like Tamil Nadu seeing muted volumes due to seasonal factors.
APOLLOHOSP / Q1-FY24 / risks
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Material risks this quarter
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Margin pressure from new store additions and clinical investments
Combined pharmacy EBITDA margins are under pressure due to 20% of stores yet to reach breakeven, and new hospitals face margin drag from doctor hiring and marketing costs.
Apollo 24|7 GMV growth may be impacted by discount reduction
The decision to reduce discounts and filter low-value orders led to a sequential decline in pharmacy GMV, and achieving the INR 3,000 crore GMV target may be challenging.
Indraprastha Medical lease renewal uncertainty
Management deferred providing an update on the lease renewal for Indraprastha Medical, which could impact future operations and expansion plans.