Apollo Hospitals revenue from operations grew 14% YoY to Rs 4,851 crore, and topped the estimated Rs 4,771 crore. The healthcare services business saw a healthy 13% YoY growth in revenue during the quarter to Rs 2,483 crore, followed by the pharmacy distribution business housed under Apollo Pharmacy, which registered 17% growth in revenue to Rs 2,049 crore.
Apollo Hospitals stock has surged over 14% in the last three months. Experts suggest short-term traders to accumulate the stock on dips towards Rs 4,950 for a possible target of Rs 5,700 in two months. After a breakout in May on the daily charts, the stock surpassed INR5,000 levels in June. The Supertrend indicator triggered a buy on April 28.