Financial Daily from THE HINDU group of publications
Wednesday, Sep 15, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Medical Institutions & Hospitals


Apollo Hospitals prunes income info

Our Bureau

Chennai , Sept. 14

APOLLO Hospitals' annual report has reduced disclosures related to income to safeguard the interests of the company and shareholders from competition, said a company official on Tuesday at the annual general meeting.

Its 2003-04 annual report did not give details of the year's income unlike the earlier years, and a shareholder asked the management to explain the absence of details. The aim was to block competitors from getting more information than necessary, was the response.

Shareholders were informed that the move was in the interests of shareholders and the company.

The management said that shareholders could, however, go to the company's office and get details on the break-up of the income. Business analysts would also be given a break-up, said the company.

Shareholders were also told that the audit committee, which is made up of three of its directors, had debated the issue. Apollo Hospitals' earlier annual reports had given details of the year's income in both the profit and loss account, and related schedules.

The Executive Chairman of Apollo Hospitals, Dr Prathap C. Reddy, said the company was close to formally signing a deal with Temasek to place 5 per cent of its equity shares. The inflow of equity capital could bring down the financial cost from the current level of 8.5 per cent, he added.

In 2003-04, Apollo Hospitals recorded a profit after tax of Rs 37.14 crore (Rs 27.49 crore) on an income of Rs 499.76 crore (Rs 448.55 crore).

More Stories on : Medical Institutions & Hospitals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Hydrogen Energy Board to discuss panel proposals


Mid-term review of dumping duty on acrylic fibre imports initiated
Karnataka urged to take steps to curb fiscal deficit
Engg cos allege harassment by Legal Metrology officials
NZ envoy visits BHEL unit
Bay of Bengal most polluted between monsoons: Study
Hussain Sagar lake clean-up funding: JBIC team arrives
10% cut in tariff values of edible oils likely
Expert assails Kerry's trade policy
Turkey seeks Indian investments in energy transportation sector
BHPV assets attached to EPFO
CNG supplies not to be hit on protest day: IGL
`Purchaser-provider' model for Karnataka power sector
Life insurers permitted to pay monthly service tax provisionally
Karnataka CM's assurance on Tunga water
Water for Chennai: AP asks TN to send technical team
Murree Brewery in talks to take Indian spirits to Pak
Ten Sports sets up own distribution team
Welingkar Institute opens Bangalore centre
Passenger car sales up 18 pc in August
Apollo Hospitals prunes income info
CII team to woo Taiwan investors
Societe Generale FDI plan cleared
AP Govt gesture to ailing kids
BL Club launched in Vellore
In Thiruvananthapuram today
Tax system should be efficient: PM
Mills may gain from zero duty raw sugar imports
EU keen on tie-up with India on disaster studies
Kerala targets 15 pc growth in foreign tourist arrivals
Urban Ministry told to provide land for budget hotels
IBA panel on tourism sector
Prof Kochhar elected to WAITRO committee



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line