Apollo Hospitals will announce funding for Apollo 24/7 by December

Apollo Hospitals will look to raise funds for their digital business, Apollo 24/7, later in December this year. In an exclusive interview with CNBC-TV18, the MD Suneeta Reddy expressed optimism about the growth potential in this verticle.

“Funding is not a problem. In December we will announce the funding. We are on track. In fact, our performance has been way ahead,” she said.

Apollo Hospitals announced its first quarter numbers and the margin reading did not impress the street. 

Consolidated revenue from operations during the quarter under review stood at Rs 3,795.6 crore as against Rs 3,760.21 crore in the year-ago period. The healthcare services vertical clocked a revenue of Rs 2,032.07 crore as compared to Rs 1,941.24 crore in the same period last year.

Reddy told CNBC-TV18 that the international patient level is not back to pre-COVID levels for Apollo Hospitals Enterprises yet.

“We did not see much in the first quarter because our northern region did very well because international patients came back, but in the south, the traffic is yet to start. More flights are expected to happen and with that, we think that we will close this year with about 12 percent of revenues coming from international patients at premium prices,” said Reddy.