India Business News: Apollo Hospitals reported a 60% growth in consolidated net profit to Rs 245 crore. The hospital business will not be impacted with the cashless everyw
PRNewswire Mumbai (Maharashtra) [India], November 8: IMA (Institute of Management Accountants) India recently concluded its 2023 Annual Conference, bringing together more than 220 professionals from various sectors to discuss and deliberate on pioneering the future of finance. Central to the conference's agenda was understanding the next era of accounting and finance. With the global economic landscape in perpetual flux and technology driving seismic shifts in business practices, the role of financial professionals has never been more pivotal. The sessions provided a comprehensive dive into the pressing challenges and opportunities in today's financial realm. Pranesh Krishnan, Director of Operations, IMA India said, "Our focus transcends traditional presentation boundaries. With the invaluable resources of IMA and the importance of the CMA certification, we equip professionals to navigate a future world of business that's continuously challenged by global economic shif
"In the case of pharmacy business, you will see that there will not be deep discounting. The team will look at the market and they will be very rational. They will be very careful on how they plan discounts. But a GMV of Rs 3,000 crore is something that we are on target for."
Synopsis
Lower footfalls and underutilisation during the viral outbreak resulted in most hospitals reporting sharp revenue decline and operational losses. However, Apollo managed to curtail losses due to a good revenue mix and its hospitals’ locations. While the hospital chain had large physical facilities, just before the pandemic, it developed a digital infrastructure, which helped it tide over the crisis.
A little over two years ago, in September 2018, the central government launched its flagship healthcare-insurance scheme, Ayushman Bharat. However, private-sector hospitals, which account for more than 60% of Indian healthcare services, were not pleased with the government’s prescribed rates for procedures. While more people (supported by the government) accessing healthcare services could have been an opportunity for private-sector hospitals to