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New Delhi, <keyword id="56368" type="General" weightage="20" keywordseo="Apollo-Hospitals" source="Orion">Apollo Hospitals</keyword> on Friday said its consolidated profit after tax declined by 47 per cent to Rs 167 crore in the first quarter ended June 30, 2023. The healthcare major had reported a PAT (profit after tax) of Rs 317 crore in the April-June quarter of previous fiscal. Revenue grew by 16 per cent to Rs 4,418 crore in the first quarter as against Rs 37,96 crore in the same period a year ago, Apollo Hospitals said in a regulatory filing. As on June 30, 2023, Apollo Hospitals had 7,798 operating beds across the network, out of which 14 hospitals were new with 2,380 operating beds, it said. The new hospitals have a utilisation of 60 per cent and are expected to witness double-digit growth in volumes and improvement in utilisation and profitability going forward, it added. "As we step into the next quarter, our focus remains steadfast - to augment our doctors' expertise and revolutionise the overall patient experience as we continue steering Apollo towards a future where healthcare is proactive, personalised, and accessible to all," Apollo Hospitals Group Chairman Prathap C Reddy noted. Shares of the company were trading 0.32 per cent down at Rs 4,905.05 apiece on the BSE.

Apollo Hospitals Q1 2023-24 net profit dips 47% to Rs 167 crore

<ul class="summary-list"><li>A London chef sparked online debate when he criticized diners who don't spend much.</li><li>"Restaurants are not public benches, " Hugh Corcoran said on Instagram, prompting praise and criticism.</li></ul>A London chef has sparked a debate about the affordability and culture of eating out after he criticized diners who don't spend enough.Hugh Corcoran, whose lunch spot opened last month and sits just 18 people, wrote on Instagram that it had become "apparently completely normal" for four people to order a starter, two main courses, and "a glass of tap water" between them."Restaurants are not public benches, you are there to spend some money," <a target="_blank" class="" href="https://www.instagram.com/p/DBvbM6bIV9n/?hl=en">he continued in the post, which gained more than 1,000 likes and 190 comments</a>. "Hear hear," wrote one commenter. Another asked: "How many people have the luxury of going out for a boozy lunch midweek?"Speaking to Business Insider, Corcoran said he was forced to turn away more convivial people because of diners who don't order much."It's not so much about the money, it's about the atmosphere and coming in with an attitude of 'we're here to enjoy ourselves,'" he said."It's not like we're struggling economically because of these people. It's maybe one or two people a week, but it's very frustrating for us," he added.In <a target="_blank" class="" href="https://www.instagram.com/p/DBx63hfIDPL/?hl=en">a follow-up Instagram post</a>, Corcoran argued that dining out is a luxury you should save up for, suggesting that people order "at least one plate per person and perhaps a few glasses of wine or a dessert," spending between £40 and £100 — about $50 and $130 — per head.Corcoran told BI his restaurant, The Yellow Bittern, was "a place for gourmands, lovers of wine and food, to come and enjoy themselves rather than somewhere just to have a quick lunch." Payment is by cash only — rare in card-friendly London — and reservations can only be made in person, by phone, or by postcard.<a target="_blank" class="" href="https://www.standard.co.uk/going-out/restaurants/the-yellow-bittern-london-restaurant-review-drinking-b1191006.html">One positive review</a> compared the experience to going "for lunch in 1982." The site includes a bookshop. Corcoran runs the establishment with a magazine editor and a bookseller.James Hacon, a restaurant consultant and industry commentator, told BI that life is tough for London eateries right now."Restaurants are already on a knife edge anyway at this point," he said. "There's very few people making anything meaningful in terms of profit in the restaurant industry."Recovering from the COVID-19 pandemic and the impact of inflation on food costs have taken a hit, he said.The hospitality industry is also dealing with minimum wage increases as well as preparing for a recently-announced increase to National Insurance — a UK earnings tax — Hacon added.In a joint letter to the UK government, more than 200 hospitality bosses said the increase would mean job losses and raised prices, even though diners can't afford them, <a target="_blank" class="" href="https://www.theguardian.com/business/2024/nov/10/nics-rise-will-force-businesses-to-close-warn-hospitality-bosses">The Guardian reported Sunday</a>.Some restaurants have <a target="_blank" class="" href="https://www.businessinsider.com/french-restaurants-reportedly-requiring-diners-spend-5000-2023-8">insisted on large minimum spends,</a> while others have been <a target="_blank" class="" href="https://www.businessinsider.com/resy-sevenrooms-premium-restaurant-experiences-reserved-for-high-paying-diners-2023-5">using data from booking sites</a> to prioritize big spenders.Hacon said there were ways to overcome the impact of diners who only want a starter and water.He gave examples like set menus, insisting on a minimum spend for larger groups, and offering opportunities for diners to "trade up" to fancier plates and wines once they're through the door."When the sun shines, it's time to make hay," he said.

A London chef criticized diners who just get water and share dishes. He says it's about the atmosphere, not the money.

New Delhi, Realty firm <keyword id="72751" type="General" weightage="20" keywordseo="Brigade-Enterprises" source="Orion">Brigade Enterprises</keyword> has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year. Its net profit stood at Rs 77.58 crore in the year-ago period. Total income rose to Rs 1,407.92 crore during the July-September period of this fiscal year from Rs 912.19 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday. The company's sales bookings stood at 1.67 million square feet valued at Rs 1,249 crore during the second quarter of this fiscal year. "All business verticals contributed significantly to the growth of the company in Q2 of FY24. The residential segment continues to outperform with strong absorption across our key markets, heightened end-user interest, stable registration processes, steady home loan rates and excellent response to new launches," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said. With a robust pipeline of launches in Bengaluru, Chennai and Hyderabad, she expressed confidence that the company would sustain the momentum going forward. Established in 1986, Brigade Enterprises Ltd is one of the leading property developers. It has developed many housing, commercial (office and malls) and hospitality projects across cities -- Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

<ul><li>₹10 crore of the proceeds from the fresh issue will be used to repay or prepay certain borrowings availed by the company. </li><li>The current growth of the company has been aided by the geographical advantage of being located in Noida, Greater Noida and Noida Extension </li><li>The equity shares are being made available for purchase through the red herring prospectus of the company, dated July 18, 2023, which has been filed with the Registrar of Companies. </li></ul><keyword id="1672659" type="General" weightage="20" keywordseo="yatharth-hospital" source="Orion">Yatharth Hospital</keyword> and Trauma Care Services proposes to open its initial public offering (<keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword>) of equity shares with a face value of ₹10 each on Wednesday, July 26, 2023. The IPO will consist of two components: a fresh issue of equity shares, amounting to ₹49 crore, and an offer for sale of up to 6,551,690 equity shares by existing selling shareholders (collectively known as the "Offer"). The anchor investor bidding date is scheduled for Tuesday, July 25, 2023. The subscription for the offer will open on Wednesday, July 26, 2023, and conclude on Friday, July 28, 2023. The company has fixed the price band for its equity shares at ₹285 to ₹300 per share, allowing bids for a minimum of 50 equity shares and in multiples of 50 thereafter. <cmsannotation type="cmsannotation" annotationid="How the funds from the IPO will be utilised" comment="subhead" text="How the funds from the IPO will be utilised">How the <keyword id="6356305" type="General" weightage="20" keywordseo="funds" source="Orion">funds</keyword> from the IPO will be utilised</cmsannotation> The net proceeds from the fresh issue will be utilized as follows: firstly, up to ₹10 crore will be used to repay or prepay certain borrowings availed by the company; secondly, up to ₹14.5 crore will go towards repaying or prepaying borrowings of its subsidiaries, AKS Medical and Research Centre and Ramraja Multispeciality Hospital and Trauma Centre, and thirdly, ₹2.56 crore will be allocated to fund the <keyword id="36749" type="General" weightage="20" keywordseo="capital" source="Orion">capital</keyword> expenditure expenses of Noida Hospital and Greater Noida Hospital. Also the company's subsidiaries, AKS and Ramraja, will receive up to ₹10.69 crore to support their respective hospital's capital expenditure expenses, and ₹6.5 crore is intended for funding inorganic growth initiatives through acquisitions and other strategic endeavors; and finally, the remaining balance will be utilised for general corporate purposes. The offer for sale consists of three categories of equity shares being offered by the promoter group sellings shareholders: up to 3,743,000 equity shares by Vimla Tyagi, up to 2,021,200 equity shares by Prem Narayan Tyagi, and up to 787,490 equity shares by Neena Tyagi. <cmsannotation type="cmsannotation" annotationid="The geographical advantage can be a double-edged sword" comment="subhead" text="The geographical advantage can be a double-edged sword">The geographical advantage can be a double-edged sword</cmsannotation> According to analysts at Axis Capital, the current growth of the company has been aided by the geographical advantage of being located in Noida, Greater Noida and Noida Extension. The Gautam Buddh Nagar district, the area in which their existing hospitals are situated, has witnessed strong economic growth in the last few years. These areas have developed rapidly in recent years on account of the growing real estate, economic development in these regions and increased purchasing power. Further, employment and capital invested in industries in these regions has been growing at a good rate, indicating potential for growth and economic activity. Being located in these regions allows them to serve patients from UP, Delhi, Haryana, Uttarakhand and other states as well. Their recent acquisition of the Jhansi-Orchha hospital is aimed at further expanding into new geographies and growing their presence in the regional healthcare market. However, as mentioned in the Red Herring Prospectus, this is also a potential risk. The company's operations are primarily concentrated in the Delhi NCR region. It heavily relies on certain specialties for a significant portion of its revenues. The financial performance of these hospitals and the earnings from its key specialties play a crucial role in shaping the overall business outcomes, financial condition, results of operations, and cash flows. Their ability to attract, retain, and train healthcare professionals, and operational, reputational, medical and legal claims, regulatory actions or other liabilities that could adversely affect their reputation and prospect have been identified among other risks. The equity shares are being made available for purchase through the red herring prospectus of the company, dated July 18, 2023, which has been filed with the Registrar of Companies, National Capital Territory of Delhi and Haryana. The plan is to have these shares listed on recognised stock exchanges, namely BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"). BSE has been designated as the specific stock exchange for the Offer.

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Apollo Hospitals Q1 2023-24 net profit dips 47% to Rs 167 crore

PTI

A London chef criticized diners who just get water and share dishes. He says it's about the atmosphere, not the money.

Mia Jankowicz

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

BI India Bureau

Yatharth Hospital & Trauma Care IPO price band set at ₹285 to ₹300 per share – Key things to know

Anagh Pal

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