Fortis Healthcare Q1 Results: Net Profit at Rs 14 crore

Stocks

oi-Monika Nihalani

By Monika Nihalani

Published: Friday, August 12, 2011, 16:03 [IST]

Fortis Healthcare, India's largest private healthcare providers posted a rise in net profits in its first quarter FY12. The company reported net profit of Rs 14 crore against a loss of Rs 14.3 crore in the corresponding quarter previous year.

Fortis's operating revenue jumped by 43% over the corresponding quarter previous year to Rs 483 crore.

Company's EBITDA for the quarter stood at Rs 62 crore.

Commenting on the results, Mr. Shivinder M Singh, MD, Fortis Healthcare (India) Ltd, said, “In this first quarter of the new fiscal, Fortis continued the growth momentum built up over the past year."

The private healthcare which has a network of 62 hospitals, reported a growth of 25% in its operating revenue in its Hospital Business and its operating revenues stood at Rs 421 crore.

“Fortis remains focused on delivering on its promise and we are preparing for the next phase of growth: to bring quality healthcare, at affordable prices, to those who currently lack access to reliable healthcare," MD said.

The company also acquired 71.5% stake in Super Religare Laboratories, one of India's leading diagnostic companies, for Rs 804 crore.

GoodReturns.in