India’s Apollo Hospitals misses quarterly profit estimates as costs rise

(Reuters) -India’s Apollo Hospitals reported a smaller-than-expected second-quarter profit on Thursday due to higher costs.

The company’s consolidated net profit rose to 4.77 billion rupees ($54.3 million) for the July-September quarter, from 3.79 billion rupees.

That was below analysts’ average estimates of 4.87 billion rupees, per data compiled by LSEG.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon and Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)