Apollo Hospitals Enterprise recorded a remarkable surge in consolidated net profit, registering a staggering 50% growth at ₹146 crore during the quarter ending in March 2023, compared to a profit of ₹97 crore in the corresponding quarter of the previous fiscal year. The company reported a net income of ₹4318.50 Cr during Q4FY23, exhibiting a substantial 21% year-on-year gain from ₹3577.15 Cr in Q4FY22.

Apollo Hospitals Enterprise announced that the esteemed Board of Directors has recommended a final dividend of ₹9 per Equity Share (180%) with a face value of ₹5 per share for the FY2022-23. The proposed dividend is subject to approval by the shareholders at the forthcoming Annual General Meeting (AGM) of the Company. The record date for determining the eligible shareholders and the AGM has been set as Saturday, 19th August 2023. Should the dividend be approved by the shareholders at the AGM, it will be disbursed, after tax deduction at source, commencing from September 9, 2023.

Shares of Apollo Hospitals Enterprise closed at ₹4603.25 apiece on the BSE, experiencing a marginal decrease of 0.92% from the previous closing price of ₹4646.10. The stock reached a 52-week high of ₹4,900.00 on (05/12/2022) and a 52-week low of ₹3,528.20 on (07/06/2022).

Despite enhancements in Q4FY23 results, the Apollo Hospitals stock price appears to be bearish, with a formidable resistance level of 4800 on the Daily charts. A daily close below the support level of 4535 may lead to a target of 4230 in the near term.

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