Apollo Hospitals share price rises 10%: Kotak Institutional Equities revise Fair Value to Rs 2860 (from Rs 2240)
Apollo Hospitals healthcare revenues recovered to 96% of pre-Covid levels in Q3 FY21. EBITDA (Ind-AS adjusted) was in line versus estimates with impressive margin expansion in new units. Kotak Institutional Equities likes Apollo Hospitals renewed focus on broadening offerings and increasing customer reach through digital/home care/Prohealth verticals creating new avenues for growth over the long term.
Apollo Hospitals posted a 5% yoy decline in revenues with healthcare revenues recovering to 96% of preCovid levels (vs Kotak estimates of 98% recovery): Reuters