|Apollo Hospitals to open 700 pharmacy outlets in India|
|Friday, 15 June 2012 13:20|
Apollo Hospitals Enterprise, an India-based healthcare provider, mulls to open around 700 pharmacy outlets, as part of its plans to expand its pharmacy retail network to over 2,000 outlets over the next three to four years.Apollo Hospitals group president K Padmanabhan told Business Standard that eventhough the firm earlier was focused on increasing pharmacy retail network, now it has started focusing on EBITDA growth along with calibrating growth.
"We think that around 5,000 to 10,000 outlets would be a critical mass, but we are aiming at 2,000 plus pharmacy outlets in next three to four years," Padmanabhan added.
Apollo Pharmacies has reported INR2,377m ($42m) in revenues during the fourth quarter ended 31 March 2012, growing 30.5% from INR1,821m ($32.67) in the prior year period.
The company continued to consolidate its pan India presence as it added 74 stores, taking its network to 1,364 operational stores by 31 March 2012. During the period, it added 81 stores and closed seven underperforming stores.