Fortis Healthcare Q2 Profit Rises 5% to Rs 193 cr
By Rediff Money Desk, New Delhi Nov 08, 2024 19:23
Fortis Healthcare's consolidated net profit increased by 5% to Rs 193 crore in Q2 FY25, driven by strong hospital performance. Revenue also grew to Rs 1,988 crore.
New Delhi, Nov 8 (PTI) Fortis Healthcare on Friday said its consolidated net profit increased by 5 per cent year on year to Rs 193 crore for the second quarter ended September 30, 2024, aided by strong performance by the hospital segment.
The healthcare provider had reported a net profit of Rs 184 crore in the July-September quarter of last fiscal.
Revenue increased to Rs 1,988 crore for the September quarter as against Rs 1,770 crore in the year-ago period, Fortis Healthcare said in a regulatory filing.
"We have continued our positive momentum in Q2 with the hospital business contributing approximately 82 per cent to our consolidated EBITDA," Fortis Healthcare MD and CEO Ashutosh Raghuvanshi stated.
The healthcare provider is making good progress in its plans to add nearly 700 beds this fiscal year across key facilities, including Faridabad, Anandpur, Shalimar Bagh, and Noida, he added.
"Commensurate with our expansion plans, our 350-bed Manesar facility which we acquired in FY24 was commissioned recently. Leveraging our robust balance sheet, we would actively pursue further inorganic growth opportunities in our focus geographic clusters," Raghuvanshi said.
In July-September period, the company said its hospital business revenues grew 14 per cent to Rs 1,655 crore as compared with Rs 1,453 crore in the year-ago period.
Shares of the company on Friday ended 0.42 per cent down at Rs 620.90 apiece on BSE.
The healthcare provider had reported a net profit of Rs 184 crore in the July-September quarter of last fiscal.
Revenue increased to Rs 1,988 crore for the September quarter as against Rs 1,770 crore in the year-ago period, Fortis Healthcare said in a regulatory filing.
"We have continued our positive momentum in Q2 with the hospital business contributing approximately 82 per cent to our consolidated EBITDA," Fortis Healthcare MD and CEO Ashutosh Raghuvanshi stated.
The healthcare provider is making good progress in its plans to add nearly 700 beds this fiscal year across key facilities, including Faridabad, Anandpur, Shalimar Bagh, and Noida, he added.
"Commensurate with our expansion plans, our 350-bed Manesar facility which we acquired in FY24 was commissioned recently. Leveraging our robust balance sheet, we would actively pursue further inorganic growth opportunities in our focus geographic clusters," Raghuvanshi said.
In July-September period, the company said its hospital business revenues grew 14 per cent to Rs 1,655 crore as compared with Rs 1,453 crore in the year-ago period.
Shares of the company on Friday ended 0.42 per cent down at Rs 620.90 apiece on BSE.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.41 (+ 2.44)
- 60373413
- Evexia Lifecare
- 3.94 (+ 4.79)
- 20851315
- Standard Capital
- 0.99 ( 0.00)
- 17601948
- Filatex Fashions
- 1.00 (+ 3.09)
- 16435485
- Sunshine Capital
- 2.21 (+ 4.74)
- 16004940
MORE NEWS
Akash Systems Signs USD 27 Million Server...
Akash Systems, a diamond semiconductor maker, has signed a USD 27 million contract with...
Krafton Enters India Casual Gaming with...
Krafton, known for BGMI, launches CookieRun in India, targeting casual gamers. The...
Bihar Seeks Investor Suggestions for Friendly...
Bihar's Industries Minister Nitish Mishra seeks input from investors to create more...