Fortis plans Rs 400-cr investment for expansion

Our Bureau New Delhi | Updated on May 27, 2011

Fortis Healthcare (India) Ltd will invest Rs 400 crore this fiscal to expand its operations in the country. The hospital chain with 56 hospitals plans to add another 1,000 beds this year to take its total operational beds to over 5,000.

Net rises 8%

The company, on Friday, said its consolidated net profit rose by 8.09 per cent to Rs 29.39 crore for the fourth quarter ended March 31, 2011. In the corresponding period previous fiscal the company's consolidated net profit was Rs 27.19 crore.

Total income of the company for the quarter ended March 31, 2011 stood at Rs 415.62 crore as against Rs 329.52 crore in the same period last fiscal.

Shares of Fortis Healthcare (India) today closed at Rs 160.60 on BSE, up 1.94 per cent from its previous close.

“Continuing the growth momentum and in line with its strategy to expand the reach in tier II and tier III cities, during the quarter, the Company added 350 beds with the addition of four hospitals at Alwar, Dehradun, Pondicherry and Mysore,” said a press statement.

Operating revenue for the full year stood at Rs 1,483 crore, a growth of 58 per cent. Operating margins on a like to like basis stood at 15.1 per cent. However, due to the initial start-up losses for the new green field ventures commissioned during the year, the operating EBIDTA stood at Rs 209 crore up 49 per cent. Consolidated profit grew by 79 per cent to Rs 124.4 crore compared to Rs 69.5 crore in FY'10.

The company also witnessed growth in its international patient revenue, which grew by 61 per cent to Rs 31.7 crore.

Published on May 27, 2011

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