I have 60 shares of Fortis Healthcarebought at ₹167. Should Icontinue to hold the shares or exit? - L. S. Sivakumar
Fortis Healthcare Limited is an integrated healthcare delivery service provider. The company’s business involves establishing, maintaining, operating, running, managing or administering hospitals, medicare, healthcare, diagnostic, health aids and research centres. The company operates through the Clinical Establishments Division and the Medical Services Division.
The Clinical Establishments Division owns, maintains and operates clinical establishments, as well as provides services under outpatient division and radio-diagnostic services. Them edicals ervicesd ivision of the company runsthe hospital operations, including in-patient services and emergency services. The company’s geographic presence inhealthcare delivery services expands from Indiatodubai, Mauritius and Sri Lanka.
On the financial front, Fortis Healthcare posted a marginal 1.41 per cent increase in its net sales to ₹168.43 crore in the first quarter of FY18 on a yearly basis. The company’s EBITDA loss narrowed by 35.84 per cent to ₹13.73 crore in the first quarter of FY18, as against ₹21.40 crore in the same quarter of the previous fiscal. The company’s net loss got reduced drastically to ₹1.04 crore in the first quarter of FY18 as compared to ₹7.05 crore in the same quarter of the previous fiscal.
On an annual basis, the company’s net sales grew by 5.48 per cent to ₹645.12 crore in FY2017, as against ₹611.59 crore in the previous financial year. The company’s EBITDA loss increased by 16.69 per cent to ₹146.55 crore in FY2017 as against
₹125.59 crore in the previous fiscal. Further, the company’s net loss widened to ₹74.75 crore in the financial year 2017 against ₹40.20 crore in FY16.THE company’s performance on both the stock market and on the financial front has slowed down. We recommend the reader-investors to EXIT the stock.