Apollo Hospitals Enterprise is witnessing a strong recovery in medical tourism from Bangladesh, with revenue from the neighbouring country expected to be closer to its pre-crisis peak of ₹450 crore this year. According to Krishnan Akhileswaran, Chief Financial Officer of AHEL, the revival comes after seeing a dip in Bangladesh patient revenue to ₹120 crore per annum. As reported by Business Standard, revenue from Bangladesh patients is already on a recovery track, with the current annualised revenue run rate estimated at ₹350-360 crore this year. The company has seen a year-on-year growth of 80% in Bangladesh alone, with Africa also growing 30% and Europe showing good growth from a lower base.
Apollo Hospitals Enterprise Limited delivered robust financial results for the second quarter and six months ended September 30, 2026. For Q2 FY27, the company reported sales of ₹76,149 million compared to ₹61,888 million in the same period last year, representing significant growth. Revenue reached ₹76,597 million versus ₹62,433 million year-on-year, while net income surged to ₹6,299 million from ₹4,772 million in Q2 FY26. The company's basic earnings per share from continuing operations improved to ₹43.74 compared to a basic loss per share of ₹33.51 in the previous year. For the six-month period, sales increased to ₹145,468 million from ₹119,236 million year-on-year, with net income rising to ₹12,106 million from ₹9,100 million.
The recovery in international patient services (IPS) business registered growth of nearly 37% during the July-September quarter of FY27, supporting the company's overall performance. According to official data, the total number of foreign medical patients in India dipped to 507,000 from a peak of 659,000 in 2023 and 625,000 in 2024. Apollo, being the market leader, was one of the worst hit during this decline, as political unrest in Bangladesh and strained bilateral ties affected the medical tourism sector in 2024 and 2025.
The company is progressing with its major restructuring phase, which is expected to be completed by the end of the fourth quarter of FY27. As part of the restructuring, Apollo HealthCo will first be demerged from AHEL into a new entity, Apollo Healthtech Limited (AHTL), following which its pharma distribution arm, Keimed, will be merged into the new company. According to Krishnan Akhileswaran, the company continues to stay committed to the guidance given two years ago that by the end of this financial year, the demerged entity would be running at around ₹25,000 crore with ₹1,500 crore of EBITDA, which is well on track to ensure listing by the end of Q4.
Apollo Hospitals is progressing with its capacity expansion programme, with 4,718 beds planned to be operationalised over the next five years. As reported by Business Standard, 520 beds have already been commissioned, with the remaining capacity coming on stream in phases. Around 1,400 beds are expected to be commissioned over the next 12 months, supporting the company's growth strategy across its hospital network and diagnostics business.
