Comments
Fortis Healthcare Ltd (Fortis) has announced a consolidated net profit of ₹34 crore in the second quarter of this fiscal year. It had reported a loss of ₹58 crore in the corresponding quarter of last fiscal.
The company’s consolidated revenues from business in the country stood at ₹1,087 crore against ₹ 978 crore in the corresponding quarter of last financial year. The company said in a release that the operating EBITDAC (EBITDA before net business trust costs) witnessed significant improvement, up at ₹190 crore.
“Consolidated India business Profit before Tax (PBT) before foreign exchange (loss)/ gain and exceptional items was at ₹15.7 crore versus a loss of ₹28.7 crore in the corresponding previous quarter,” the release added.
The revenues from hospital business were at ₹883 crore against ₹ 797 crore in the corresponding previous quarter. The diagnostics business recorded operating margins of 28.3 per cent at ₹58 crore, a growth of 53 per cent over the corresponding quarter.
Commenting on the results, CEO Bhavdeep Singh said the growth is a reflection of an uptick in the business with better overall performance including in the operations of our newer facilities.
“With the clean-up in our balance sheet, rationalisation of low performing units and better quality of business, we are progressing into the positive territory on our PATMI. This augurs well for the future,” he said. The total networth of Fortis is about ₹5,000 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.