Fortis Healthcare's Q3 profit after tax sees over twofold jump to Rs 142 cr

Fortis Healthcare on Friday said its consolidated profit after tax (PAT) rose by over twofold to Rs 142 crore in the third quarter ended December 31, 2021.

The company had reported a PAT of Rs 54 crore in the corresponding period last fiscal.

Its revenue during October-December 2021 rose to Rs 1,466.7 crore as compared with Rs 1,177 crore in the year-ago period, Fortis Healthcare said in a statement.

"Our efforts to drive operations both in terms of revenue accretion and cost optimisation initiatives have yielded positive results as witnessed in the Q3 performance and over the past few quarters," Ravi Rajagopal, chairman (board of directors) of Fortis Healthcare, said.

Strategic plans for further strengthening clinical specialities, medical programmes and infrastructure are actively being pursued, he added.

"Investments in brownfield (existing) bed expansion should see the company add close to 250-300 beds each year for the next few years, taking our operational bed capacity to over 5,000 beds.

"Consistent endeavours towards improving patient experience, led by technology and digital enablers such as enhanced websites and apps have seen good traction and are being further evaluated for a larger healthcare platform," Rajagopal said.

The company's healthy balance sheet and cash flows also allow it to partake in growth and consolidation prospects in the industry, he added.

"All these should augur well for future business growth and profitability," Rajagopal said.