Fortis Q2 net loss widens to Rs142 crore
Fortis net loss widened to Rs142 crore in the second quarter ended September, from Rs23.61 crore a year earlier
Bengaluru: Indian hospital operator Fortis Healthcare Ltd, which is set to be acquired by Malaysia’s IHH Healthcare Bhd, posted a quarterly loss due to impairment charges.
The company’s net loss widened to Rs142 crore ($19.43 million) in the second quarter ended September, from Rs23.61 crore a year earlier, according to a filing on Monday.
Fortis, which has operations in India, Dubai, Mauritius and Sri Lanka, agreed to be bought by IHH Healthcare after a prolonged takeover battle, which drew interest from five international and local suitors.
Income from operations fell 4.8% to Rs1,140 crore. The company incurred a one-time loss of Rs96.07 crore for the quarter compared with a loss of Rs46.76 crore a year ago.
Shares of Fortis Healthcare Ltd today closed at Rs140.10 per scrip on the BSE, up 0.94% from their previous close.