Apollo Hospitals Enterprise Ltd. promoters would reduce the company’s pledged shareholding by divesting stake in their insurance joint venture, according to Krishnan Akhileswaran, the Apollo Group’s chief financial officer told, “there are plans to divest stake in Apollo Munich already. This should significantly bring down (the stake) to less than half the current number.”

• Revenue rose 16.3 percent to Rs 2167.1 crore.
• Net profit up 28.7 percent to Rs 76.7 crore.
• Ebitda increased 24.2 percent to Rs 265.7 crore.
• Margin was 12.3 percent versus 11.5 percent.

Akhileshwaran also said that Apollo Hospitals would pare its debt as it’s at the end of its capital expenditure cycle. The company announced its results for the quarter ended March on Thursday.
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