Fortis Healthcare's fourth-quarter (January-March) consolidated net profit surged 43% to Rs 38.8 crore backed by robust revenue growth from all hospitals. However, the company said net profit rose by 8% to Rs 29.4 crore after including the start-up costs of newly commissioned greenfield hospitals.
Net revenue during the quarter under review rose 26% to Rs 416 crore, Asia's largest private healthcare provider said in a press release Friday.
"We added eight hospitals to the network during the past year, including three large greenfield facilities in metro cities," said Shivinder Singh, managing director, Fortis Healthcare (India) Ltd, in the press release.
Operating margins on a like-to-like basis improved by 60 bps to 14.8%. However, with the initial start-up losses at the newly commissioned green field ventures, the operating EBIDTA (earning before income, depreciation, tax and amortisation) stood at Rs 56 crore, up 19%, reflecting a margin of 13.5%, the company said in the release.
Shares of Fortis Healthcare ended at Rs 160.60, up 2% on the Bombay Stock Exchange.
Source: www.moneycontrol.com
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