Fortis posts profit of Rs 14 cr

Our Bureau New Delhi | Updated on November 12, 2017

Fortis Healthcare (India) Ltd reported net profit of Rs 14 crore for the first quarter ended June 30, 2011, against a loss of Rs 14.3 crore in the corresponding period last fiscal.

The company had incurred a net loss in the last period due to heavy interest burden of Rs 71 crore as compared to Rs 30 crore in the period under review

The company reported consolidated operating revenue of Rs 483 crore, representing a growth of 43 per cent over the corresponding period last fiscal. This includes Rs 62 crore from the newly added diagnostic vertical: Fortis had acquired 71.5 per cent stake in Super Religare Laboratories (SRL), one of India's leading diagnostic companies, for Rs 804 crore. SRL reported net loss of Rs 1 crore for the period under consideration.

Operating EBITDA for the quarter stood at Rs 62 crore, up 27 per cent, representing a margin of 12.8 per cent.

Operating revenue from hospital business stood at Rs 421 crore, representing a growth of 25 per cent over the corresponding period last fiscal. The growth has been led by Fortis Mohali, Fortis Mulund, Fortis BG Road, Bengaluru, and Fortis Escorts, Jaipur.

Recently, the company consummated deals for six new hospitals and thereby added 1,400 beds. This includes built-to-suit properties at Bengaluru, Chennai, Indore and Pune.

Mr Aditya Vij, CEO, Fortis Healthcare (India) Ltd, said: “We are intent on extending our presence beyond the large Indian cities over the next three years. To this end, we are focused on standardising our clinical and non-clinical processes, to create a uniform Fortis experience, no matter where our location.”

Fortis share price was up 2.5 per cent at Rs 160.05 at close on Friday on the BSE.

Published on August 12, 2011

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