Fortis Healthcare returns to black, logs ~430-cr profit
Hospital major Fortis Healthcare reported a profit after tax (PAT) of ~430.6 crore in the April-june quarter of FY22 against a loss of ~187.9 crore in the yearago period riding on a 132 per cent rise in revenues to ~1,410 crore and an exceptional gain.
The PAT includes an exceptional gain of ~306 crore on remeasurement of the previously held equity interest of SRL in the SRL-DDRC JV at its fair value post acquisition of the balance 50 per cent stake in the said JV in April 2021.
The hospital business revenue soared from ~488.4 crore in Q1FY21; a lockdown hit quarter, to ~1,006.5 crore in Q1FY22. Margins, too, improved from a loss of ~85 crore last financial year, the Ebitda in the hospital business grew to ~149.6 crore with resulting Ebitda margin of 14.9 per cent.