Indias Apollo Hospitals to double AI investments, beats profit estimate
The hospital chain already uses AI tools in diagnosis to read X-rays, scan reports and also in endoscopy - a medical procedure to examine the inside of the body using a camera, CEO Madhu Sasidhar told Reuters on Tuesday.
Many large private hospital chains in India, like their western counterparts, are investing in AI capabilities to improve patient diagnosis and decisions related to medical procedures, among others uses.
Apollo recently developed technology to read existing scan reports and predict the risk of liver fibrosis in the future, Sasidhar said.
"We are also bringing some other new generation agentic AI-type tools," he said.
He did not quantify the size of Apollo's existing investment in AI.
Apollo, headquartered in the south Indian city of Chennai, partnered with Microsoft earlier this year to develop AI-based tools to be used in healthcare. Some of them are in early stages of testing, Sasidhar said.
Indian hospital chains such as Apollo and Manipal have also been increasing their bed count for a larger share of the market, including through acquisitions of smaller hospital operators.
Apollo said it is on track to add 4,370 beds over the next 3-4 years through acquisition, new hospitals and expansion of existing facilities. Its overall bed capacity is currently more than 10,000.
The company's consolidated net profit rose 41.8% to 4.33 billion rupees ($49.40 million) for April-June, beating estimates of 3.86 billion rupees, according to data compiled by LSEG.
While its overall occupancy rate dipped from last year, in-patient volume grew 3% and average revenue per in-patient increased by 9%, according to Apollo.
Quarterly total revenue rose 15% to 58.42 billion rupees, beating estimates of 57.44 billion rupees.
The company said it expects double-digit revenue growth for the current financial year.
($1 = 87.6520 Indian rupees)
(Reporting by Rishika Sadam; Editing by Leroy Leo)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
17 minutes ago
- The Hindu
India ‘fully engaged' with U.S. on trade deal, says Commerce Secretary
India continues to be 'fully engaged' with the U.S. on a Bilateral Trade Agreement, Commerce Secretary Sunil Barthwal said on Thursday, however adding that the date for the next round of negotiations has not yet been decided. He reiterated the deadline for the deal as fall 2025, or September-October 2025, as announced by Prime Minister Narendra Modi and U.S. President Donald Trump. Official sources have also confirmed that India was working with both the U.K. and the EU to fast-track the implementation of the respective trade deals India was concluding with them. During the Indian team's visit to Washington in July to continue negotiations on the deal, it had been decided that the next round would take place in New Delhi during the last week of August. However, a lot has changed since then. US President Donald Trump on July 31 approved a 25% tariff on imports from India, and then on August 6 approved an additional 25% tariffs as a 'penalty' for India's imports of Russian oil. Mr. Trump has also indicated that further negotiations would not take place until the Russia oil issue was resolved. Against this backdrop of uncertainty, Mr. Barthwal said that negotiations on the BTA were still progressing. Negotiations progressing 'We are fully engaged with the U.S. on the trade negotiations,' Mr. Barthwal said at a press briefing. 'There was a joint statement that was given by the U.S. President and our Prime Minister where it was said India and the U.S. would engage in a bilateral trade agreement and simultaneously we would also aim to more than double our trade to $500 billion.' 'Those talks are going on,' he added. 'The BTA talks are going on. We are engaged.' However, Mr. Barthwal added that the final date for the next round of negotiations would be decided closer to the last week of August. According to official sources who declined to be named, the negotiations and engagement between India and the U.S. was taking place at different levels. 'One level is at the negotiating team' level, another one happens at the Ministers' level, the third happens at the diplomatic levels, and we also engage the different industries of the U.S. to look into their issues,' the official explained. Other deals being fast-tracked The India-United Kingdom Comprehensive Economic and Trade Agreement (CETA), signed in July, is now in the final stage where the UK is concluding its due processes in its Parliament. 'We have requested the UK to fast-track this process so it comes into force as early as possible,' another government source said. They added that the Trade and Economic Partnership Agreement (TEPA) between India and the EFTA countries — Iceland, Liechtenstein, Norway and Switzerland — would come into force on October 1. 'With the EU, we are fast-tracking the negotiations,' they explained. 'But a lot of work has progressed and it was decided that the FTA would be concluded by the end of December. It has made good progress and there are further meetings that are going to happen, at the negotiators' level, the Secretary level, and at the Ministerial level.' With Oman, the talks on a trade agreement have concluded and the deal will be signed 'very soon', when the dates are decided by both countries. Good progress with ASEAN countries The negotiating team representing the Association of Southeast Asian Nations (ASEAN) countries was in India between August 10-14 to review the Trade in Goods Agreement between the two. 'We are telling them that we need to increase trade between India and ASEAN,' the official said. 'Everybody is concerned about the uncertain global policy environment. They have realised that both ASEAN and India move forward and improve trade between the two blocks.' They added that India and the ASEAN countries were not only looking at tariff issues but also non-tariff issues, such as Sanitary and Phytosanitary (SPS) measures and Technical Barriers to Trade (TBT) and regulatory compliances. 'Since these are issues that require deep analysis, that analysis is going on,' the official said. 'This round has been quite fruitful. There is a lot of clarity on how we should move forward.'
Mint
17 minutes ago
- Mint
‘Four strategy pillars': India working to fast-track FTAs amid higher US tariffs, says Commerce Secretary
Commerce Secretary Sunil Barthwal on August 14 said that the government is working on 'four strategy pillars', including fast-tracking of free trade agreements (FTAs) with the UK and European Union to improve export competitiveness amid higher US tariffs on Indian exports, PTI reported. The other pillars are promoting ease of doing business, export diversification (products and markets), and import diversification, Barthwal said. According to Barthwal, India has requested the UK to fast-track approval of the Comprehensive Economic and Trade Agreement (CETA), which was signed on July 24, so that it comes into force as early as possible. He told reporters that negotiations with the EU have also been fast-tracked, adding, 'A lot of work has progressed in the proposed pact between India and the EU, and both sides are hoping to conclude the talks by the end of this year. There are further meetings that are going to happen on this at the negotiator, secretary and minister's level.' Meanwhile, talks with Oman have concluded, and the deal may be signed when dates are decided mutually by both countries, he said. 'That (trade pact with Oman) is very close in terms of signing,' the secretary said. Further, discussions are also progressing with New Zealand, Peru, and Chile. While review negotiations regarding an FTA in goods with the 10-nation Asean bloc is also happening. 'Yesterday we discussed how we can improve trade between India and ASEAN. We are also focussing on increasing FTA utilisation with countries with which we have already signed these pacts,' he said. Bathwal noted that working on a strategy is crucial for India amid the steep tariffs imposed by the US — Donald Trump's tariffs have climbed to a total combined 50 per cent on Indian imports into America. The decision is likely to impact key sectors such as chemicals, leather and footwear, gems and jewellery and textiles. 'There are uncertainties because of these are getting is still no clarity about what is happening on the globe. In this uncertain environment, we thought that let's have a clear-cut strategy so that we can focus on our exports in a manner which is within our have strategised across four pillars,' Barthwal said. Under strengthening export promotion, the ministry already has different export promotion schemes, but there is a need to further strengthen them. In import diversification, there is a need to reduce dependencies on a few countries and enhance domestic sales. "First approach is to focus on our free trade agreements (FTAs)," he said, adding the commerce ministry will work on fast tracking facilitating the utilisation of these pacts. "We are looking at saturation of FTA is a gradual process, but we will be focusing now more on this," he said. The ministry, he said, is now focusing on 30 more countries in addition to 20 earlier, for pushing India's exports. These 50 countries constitute more than 90 per cent of India's export basket, and they include Malaysia, Indonesia, Mexico, Italy, Belgium, Nigeria, Oman and Poland. "As a strategy, we will focus on these countries. We will do more export promotion activities in these nations," Barthwal said. On the impact of US tariffs on India, an official said the ministry is in touch with stakeholders. 'We know the sectors that are more exposed towards the are talking to export promotion councils and trying to understand their exposure to the US,' the official said, adding states are also looking at how they help and facilitate exports. The official said trade in domestic currencies may also be discussed during meetings between a visiting high-level Indian delegation and Russian counterparts. "A very high-level delegation is going from MEA (Ministry of External Affairs), and the commerce will also be participating in that high-level delegation to Russia," the official said.
&w=3840&q=100)
Business Standard
17 minutes ago
- Business Standard
De-dollarisation is not part of India's financial agenda, says MEA
The Ministry of External Affairs (MEA) on Thursday dismissed suggestions that India is working towards de-dollarisation within BRICS, saying such a move is "not part of India's financial agenda". "We have made our position very clear on this issue earlier as well. De-dollarisation is not part of India's financial agenda," MEA spokesperson Randhir Jaiswal said at the weekly media briefing when asked about Brazilian President Lula's statement that BRICS nations may consider an alternative currency amid tension with the United States over steep tariffs on BRICS nations. The remarks came in response to Brazilian President Luiz Inacio Lula da Silva's recent comments that BRICS members could "discuss" creating a trade currency among themselves. Explaining his position, Lula said the idea should be tested, adding, "We can discuss in the BRICS. There is a need to have a trade currency between us and the BRICS. I do not reject it because we must test; if the testing fails, then I would be wrong. But someone has to convince me that I am wrong," Russia Today reported. The comments follow Lula's confirmation that he will visit India in January with a delegation. When asked if PM Modi had invited Lula following their recent phone conversation, Jaisawal said, "We had gone to Rio to attend the BRICS summit. We also paid a state visit to Brasilia. And at that time, the Prime Minister, as is normal in bilateral ties, invited President Lula to visit India at an appropriate time." Lula's remarks on a BRICS trade currency come amid fresh trade frictions involving both India and Brazil with the United States. Last week, US President Donald Trump, in an executive order, imposed an additional 25 per cent tariff on Indian goods taking total duty to 50 per cent, over New Delhi's continued purchase of Russian crude oil. Last month, Trump also announced a 50 per cent tariff on imports from Brazil starting August 1, while calling the trial of former Brazilian President Jair Bolsonaro a "witch hunt" that "should not take place." India, however, has maintained that it will continue engaging with BRICS members on issues of shared interest while safeguarding its economic and strategic priorities. "India is a member of the BRICS group, and we continue to remain in touch with member countries to discuss issues of shared interest, MEA spokesperson Jaiswal added. India hasn't taken any steps to actively reduce its reliance on the US dollar in international trade, according to External Affairs Minister S Jaishankar. Instead, India aims to "derisk" its trade by diversifying its trade partners, exploring alternative payment systems, and reducing reliance on a single currency. India has signed agreements with countries like Russia, the UAE, and the Maldives to settle trades in local currencies, reducing the need for dollar conversion and exchange rate risks. India is also opposed to having a common currency with China and other BRICS nations, citing geographical differences and a lack of economic integration.
