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Fortis Healthcare has reported a consolidated net loss of Rs 22.28 crore for the third quarter of the current fiscal compared to net profit of Rs 389.09 crore during the same period in the previous fiscal. The company reported a total income of Rs 1,024.53 crore in the quarter under review as against Rs 1,018.72 crore during the corresponding quarter in a year ago period.
The profit of Rs 389 crore during third quarter of the last fiscal was primarily due to gains arising from the divestment of Quality Healthcare, Hong Kong, in the particular quarter, the company said in a statement.
Commenting on the results, Shivinder Mohan Singh, executive vice chairman, Fortis Healthcare, said, "There has been a significant uptick in our operating margins both in the consolidated and hospital business. We have seen good performance in our stable state hospitals, greater contributions from our new facilities and good results in diagnostics.''
The quality of the revenue stream too has shown marked improvement with a steady increase in the numbers and complexity of clinical procedures handled across medical specialities, at the hospitals, he said. ''I believe our efforts at generating sustainable, repeatable and predictable outcomes through medical excellence and patient centric care at affordable prices, underpin our performance."
Post the announcement of the result, Fortis shares closed at Rs 138.95 per share on BSE, up by 1.13 per cent, on Friday.
The net debt of the Company as on 31 December 2014 was at Rs 1,301 crore compared to Rs 1,071 crore as on 31 December 2013 representing a net debt to equity ratio of 0.27.
