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Apollo Hospitals Enterprises Ltd.’s Q2 FY22 performance was better than estimate led by strong recovery in occupancies along with robust average revenue per occupied bed.
Margins improved 570 basis points/270 bps YoY/QoQ to 16.5% versus estimated 14.0% led by improvement in case mix.
Overall, revenues grew 34.6% YoY to Rs 37.2 billion (our estimate: Rs 35.1 billion).
We remain positive on Apollo Hospitals’ long-term outlook considering its strong brand and pan-India presence in the hospital segment, margin expansion potential and aggressive focus on creating digital network for pharmacy, doctor consultation, clinics and diagnostics.
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