Apollo Hospital’s pharmacy business to touch ₹10,000 crore in revenue this year

With 5,790 pharmacies, Apollo is the largest pharmacy chain in India, adding 400-500 stores each year. [View in browser]( [See all newsletters]( 09 February 2024 Apollo Hospital’s pharmacy business to touch ₹10,000 crore in revenue this year [The Apollo Group is now prioritising the growth of its online pharma sales. While an IPO isn’t imminent, CFO Akhileswaran Krishnan indicated it could happen eventually, after further expansion. ] The pharmacy business of Apollo Hospitals group will touch ₹10,000 crore in revenue this year, the group’s Chief Financial Officer, Akhileswaran Krishnan, told businessline today. There are some 5,790 Apollo Pharmacies today, [making it the largest pharmacy chain]( the country. The group is adding pharmacies at the rate of 400-500 every year.  However, the healthcare group wishes to grow its online pharma sales business. “We are growing the ‘online’ now; the online business is just beginning to grow,” Krishnan said. - Read: [Apollo Hospitals launches healthcare platform Apollo HealthCo]( He said this while answering a question as to whether the [group’s pharmacy business]( would come out with an IPO and list separately. Stressing that there is no plan for an IPO now, Krishnan said that a public issue would “eventually” happen, but the group would first like to grow the pharmacy business into a much bigger business. PAT rises 60 per cent Apollo Hospital Enterprise Ltd today reported a 60 per cent increase in its consolidated net profit for the third quarter of this year—to ₹245 crore, from 153 crore in the comparable quarter of last year. This resulted in a 14 per cent increase in revenues (₹4,850 crore against ₹4,263 crore previously). The net profit gives an earning per share of ₹17.06 (not annualised). On the BSE today, the Apollo Hospital Enterprise Ltd share closed at ₹6,229.75, which was ₹50.40 (0.82 per cent) higher than the previous close. You Might Also Like [Cabinet approves spectrum auction of 10,513 MHz worth ₹96,317.65 crore]( [Economy]( [Cabinet approves spectrum auction of 10,513 MHz worth ₹96,317.65 crore]( [FM tables White Paper, blames UPA for ‘deeply damaged economy’]( [Economy]( [FM tables White Paper, blames UPA for ‘deeply damaged economy’]( [BAT actively working to ‘monetise’ some of its shareholding in ITC]( [Companies]( [BAT actively working to ‘monetise’ some of its shareholding in ITC]( [SEBI asks Zee Business guest experts to pay ₹7.41 crore for ‘unlawful’ gains]( [Markets]( [SEBI asks Zee Business guest experts to pay ₹7.41 crore for ‘unlawful’ gains]( Stay informed Subscribe to businessline to stay up-to-date with in-depth business news from India [arrow]( Copyright @ 2024, THG PUBLISHING PVT LTD. If you are facing any trouble in viewing this newsletter, please try [here]( Manage your newsletter subscription preferences [here]( If you do not wish to receive such emails go [here](