Fortis Healthcare Q4 results: Co reports net profit of Rs 62 crore

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NEW DELHI: on Saturday reported a consolidated net profit of Rs 62.36 crore for the quarter ended March 31, 2021 on account of wholesome efficiency in each the hospital and the diagnostics segments. The firm had posted a net loss of Rs 41.24 crore for the corresponding interval of the earlier fiscal, Fortis Healthcare mentioned in a regulatory submitting.

Consolidated income from operations of the corporate stood at Rs 1,252.44 crore for the quarter into consideration. It was Rs 1,112.92 crore for a similar interval a yr in the past, it added.

For the fiscal yr ended March this yr, the corporate posted a net loss of Rs 56.17 crore. It had posted a net profit of 91.49 crore for the earlier fiscal yr, the submitting mentioned.

Revenue from operations of the corporate stood at Rs 4,030.12 crore for the monetary yr ended March 2021. It was Rs 4,632.32 crore for the yr in the past fiscal yr, it added.

“On the quarter, as the business returned to normalcy in Q4, we have seen a healthy performance in both the hospitals and the diagnostics business. Our focus was to ensure sustainability and continuity of operations in these difficult times; something that we have successfully managed to do over the past year,” Fortis Healthcare Board of Directors Chairman Ravi Rajagopal mentioned.

Despite the present intense second wave of Covid, “which we are now seeing signs of ebbing; our investments in business over the past two quarters have gathered pace in terms of medical programs and infrastructure expansion,” he added.

Q4FY21 Hospital Business revenues grew 7.5 per cent to Rs 982 crore as in opposition to Rs 913 crore within the fourth quarter of FY 20, the submitting mentioned.

The Diagnostics Business gross revenues for the Q4 FY21 elevated 32 % to Rs 306 crore as in opposition to Rs 232 crore in the identical interval a yr in the past, it added.

On the outcomes, Fortis Healthcare MD and CEO Ashutosh Raghuvanshi mentioned, “On the year gone by and specifically Q4; the quarter has given us a sense of confidence that the building blocks of the business are in place and the company is well poised to capitalise on the opportunity once the current covid wave abates and the environment normalises.”

The firm’s plans for portfolio rationalisation and mattress growth in choose geographies are additionally underway within the present fiscal, he added.

Regarding the problem of open supply by Malaysian agency IHH Healthcare for the corporate, Fortis Healthcare mentioned, “The Supreme Court matter pertaining to the open offer witnessed a number of hearings in the Honorable Supreme Court since February 2021. These now stand concluded and the order has been reserved by the Honorable Court.”

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