Fortis Healthcare Q3 loss at Rs 22.2 crore

Fortis Healthcare today reported a consolidated net loss of Rs 22.28 crore for the third quarter ended December 31, 2014.
The company had posted a net profit of Rs 389.09 crore during the same period of previous fiscal.
The company, which is planning to consolidate its businesses, may take a decision on unlocking value of its diagnostic arm SRL by the first quarter of next financial year.
"The reported results for Q3FY15 are not comparable to the corresponding previous period due to the progressive divestment of the company's international business namely Quality Healthcare, Hong Kong in the course of Q3FY2014," Fortis Healthcare said.

Consolidated total income of the company stood at Rs 1,024.53 crore for the quarter. It was Rs 1,018.72 crore for the same period of previous fiscal, Fortis Healthcare said in a statement.
Commenting on the results, Fortis Healthcare Executive Vice Chairman Shivinder Mohan Singh said: "There has been a significant uptick in our operating margins both in the consolidated and hospital business."

The company has seen good performance in its stable state hospitals, greater contributions from its new facilities and good results in diagnostics, he added.
Revenue for the India hospital business was at Rs 792 crore, a growth of 11 per cent compared to the corresponding quarter in the previous year, Fortis said.

India diagnostics business recorded a net revenue of Rs 179 crore, growing at 13 per cent over the corresponding previous quarter, it added.
Asked if the company was planning listing of its diagnostic arm SRL, Singh said: "We are looking at all options and may take a decision on the course to take by the first quarter of next financial year."
He also added that after the greenfield expansion at Chennai, Bengaluru and Ludhiana, the company is not planning any new facilities for two and half years.
Shares of Fortis Healthcare today closed at Rs 138.95 per scrip on BSE, up 1.13 per cent from their previous close.