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Fortis Healthcare on Friday reported revenue growth of 47 per cent in July-September of FY22 on a yearly basis to ₹1,462.5 crore as compared with ₹994.7 crore in the same quarter of previous year. This was primarily on the back of higher growth in non-Covid business, the company said.
Meanwhile, the company’s earning before interest, tax, depreciation and amortisation (EBITDA) grew 100.8 per cent year-on-year to ₹292.4 crore. For the second quarter of FY 22, the company recorded the profit after tax of ₹106.9 crore as against the loss of ₹3.9 crore in the Q1FY21.
Also, in the second quarter of FY22, hospital business revenues grew 47.2 per cent, YoY to ₹1,098.5 crore from Rs 746.4 crore in Q2 FY21. Revenues in Q1FY22 were at ₹1,006.5 crore. Further, the Q2 FY22 diagnostics business gross revenues rose 42.6 per cent YoY to ₹402.7 crore as compared with ₹282.4 crore in Q2FY21. Revenues in Q1FY22 were at ₹441.4 crore, the company added.
“The quarter gone by has seen a healthy improvement in our operations led by robust growth in the non-Covid business. With operations returning to near normal, we have re-focussed on our strategic priorities to further strengthen our medical programs in key facilities in Delhi- NCR and Mumbai. We continue to review our portfolio of facilities and our efforts to turnaround underperforming but high potential facilities such as Fortis Escorts (FEHI) are seeing encouraging results. Investments for brownfield expansion should augment our existing operational bed capacity of close to 3,900 beds by another approx. 250-300 beds in FY22,” Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare, said.
“Our occupancy in the hospital business is similar to Q1 at approx. 64 per cent, but what is noteworthy is the improvement in the quality of revenues with a robust uptick seen in high end procedures across key medical specialties. This has led to the highest ever ARPOB for the hospital business at ₹1.87 crore, a growth of 26 per cent over Q2 FY21 and 15 per cent over Q1 FY22. The diagnostics business continues its upward trajectory with non-Covid revenues increasing 65 per cent. Our efforts are now towards strengthening our medical talent and to that effect we have onboarded reputed clinicians in oncology, cardiac and neuro-sciences specialties across major facilities,” Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare, said.
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