New Delhi, July 21: Apollo Hospitals Enterprise Ltd reported a 13.65 per cent increase in net profit during the quarter ended June 30, 2003 over the same period last year. The net profit increase was mainly due to considerable savings in depreciation and financial expenses, the company said in a statement here. The company's turnover also recorded a 7.26 per cent rise at Rs 114 crore over the corresponding quarter last year.

On performance, chairman P C Reddy said "while the group has continued to perform well in its core healthcare delivery business, investments in the it-led initiatives such as medical business process outsourcing have started paying dividends". The group is looking forward to even greater returns from these initiatives, he added.

Bureau Report