Apollo Hospitals Enterprise plans to raise about $200 million by selling a stake of up to 6 per cent in its online platform, chief financial officer Krishnan Akhileswaran said on Friday.
Apollo Hospitals is expecting a valuation of $2.5 billion to $3 billion for the healthcare services platform, Apollo HealthCo Ltd.
In May, Apollo’s fourth-quarter revenue from healthcare services climbed 18.5 per cent and accountedfor 51 per cent of its total revenue.
Apollo Hospitals Enterprise said its consolidated net profit increased by 60 per cent to Rs 144 crore in the fourth quarter ended March 31, aided by robust performance across segments.
The healthcare major had reported a net profit of Rs 90 crore in the January-March quarter of 2021-22 fiscal.
Revenue grew to Rs 4,302 crore in the fourth quarter of the last fiscal compared with Rs 3,546 crore in the year-ago period, Apollo Hospitals said in a regulatory filing.
For the year ended March 31, the company reported a net profit of Rs 819 crore against Rs 1,056 crore in FY22.
Revenue grew 13 per cent to Rs 16,612 crore compared with Rs 14,663 crore in FY2022.
“Our unwavering commitment to deliver world-class healthcare has enabled us to scale new heights with our performance — both in terms of financial metrics and in the expansion of our healthcare service offerings,” Apollo Hospitals group chairman Prathap C. Reddy stated.
The healthcare provider has continued to broaden its services, ensuring that it focuses not just on cure, but on preventive healthcare as well, he added.
“Looking ahead, we remain committed to investing in the best technology to enable superior care, including robotics, which have the potential to transform surgical procedures and improve outcomes.
“We also continue our focus on digital health, and have immense belief in its ability to make quality healthcare more accessible,” Reddy said.
Shares of the company ended 0.92 per cent down at Rs 4,603.25 apiece on the BSE.
The company said its board has recommended a final dividend of 9 per share for the 2022-23 fiscal.
Parekh pay falls 21% in 2023
Salil Parekh, the Infosys CEO and managing director, saw his compensation fall 21 per cent in 2022-23 to Rs 56.44 crore, the IT services giant’s annual report showed on Saturday.
Parekh drew Rs 71.02 crore in the previous fiscal. The fall came as Parekh exercised lower number of restricted stock units (RSUs) during the year. His salary included Rs 30.60 crore due to exercise of 1,24,783 RSUs under the 2015 Plan and 73,962 RSUs under the 2019 Plan.
In the previous fiscal, this component stood at Rs 52.33 crore as he exercised 2,29,792 RSUs and 1,48,434 RSUs, respectively.
RSUs are a form of share-based employee benefits under which a company issues its equity shares to an employee, subject to certain restrictions such as the vesting period or fulfilment of prescribed performance conditions.
Infosys has two such plans — the 2015 plan and 2019.
