Fortis Healthcare’s June quarter profit more than triples to Rs15.1 crore
Fortis Healthcare says its board of directors had approved in-principle a proposal to demerge the company’s diagnostics business
New Delhi: Hospital chain Fortis Healthcare Ltd’s net profit more than tripled in the quarter ended 30 June as it admitted more patients and earned more per occupied bed, the company said on Thursday.
Net profit rose to Rs.15.1 crore in the three months from Rs.4 crore in year-earlier period. Revenue rose 9% to Rs.910 crore in the same period.
Average revenue per occupied bed grew to Rs.1.47 crore in the quarter from Rs.1.4 crore a year ago. Hospital occupancy improved to 74% from 70%.
The India diagnostics business revenue rose 7% to Rs.192 crore.
In a statement, Fortis Healthcare said its board of directors had approved in-principle a proposal to demerge the company’s diagnostics business, which includes operations of SRL Ltd. The details of the demerger will be finalised by the board later this month, it said.