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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹4,944 Cr
verified against source
Revenue YoY
15%
reported change
EBITDA
₹641 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Apollo Hospitals reported a strong Q4 FY24 with consolidated revenue of INR 4,944 crore (up 15% YoY) and EBITDA of INR 641 crore (up 31% YoY). Healthcare services revenue grew 17% YoY, driven by 6.1% IP volume growth and 12% ARPOB increase to INR 59,523. Occupancy stood at 65%, with metro hospitals above 70%. The company added 150 new doctors, which temporarily impacted healthcare services margins (23.1%), but management expects a 150 bps margin expansion in FY25. Apollo 24/7 achieved positive EBITDA of INR 12 crore, with a target to breakeven in 6-8 quarters. Pharmacy distribution growth was impacted by inventory rationalization. Guidance includes 15%+ healthcare services growth, 50% GMV growth for Apollo 24/7, and 500-550 new pharmacy stores. Risk: New hospital ramp-up and doctor hiring may delay margin recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Driven by volume growth, network expansion, and better asset utilization.
- Targeting 25% margin by end of FY25 through cost optimization and surgical volume growth.
- Targeting GMV of INR 1,700 crore per quarter and take rate improvement from 4% to 8%.
- Offline pharmacy network expansion to continue at similar pace as FY24.
Risks flagged
- Four new hospitals with 1,500 beds to be operationalized by calendar 2025-26; initial costs could pressure margins.
- 150 new doctors hired in FY24; full revenue contribution expected only by Q2 FY25, posing near-term margin risk.
- Lower inventory buildup reduced pharmacy distribution sales by ~INR 150 crore in Q4; growth recovery depends on store-level execution.
- Nashik hospital remains a drag on western region occupancy due to multiple competitors and low-paying patient mix.
Key quotes
- We are looking at a growth of beyond 15%. This growth will be driven by volume.
- Our target is to get to 25%. That's what we have as internal targets.
- The Supreme Court said that hospital rates are a function of market rates... it was a very good outcome for the private sector.
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