Fortis Healthcare announces Q1 results: Profit falls 69% to ₹134 cr

Fortis Healthcare Limited on Friday announced its consolidated financial results for the quarter ended June 30, 2022. It has reported a 69 per cent decline in consolidated net profit. 134 crores.

Healthcare major had made a net profit 431 crore, in which . included the extraordinary advantage of 306 crores in April-June 2021-22.

According to the company’s revenue during the reporting period: 1,488 crore as compared to 1,410 crore in the year-ago period.

“with covid Compounding, our Hospitals business has shown a strong uptrend relative to the Diagnostics business, which has seen volume declines in both Q1 and Q4 of FY 2012 due to a higher COVID-led base,” fortis Healthcare chairman Ravi Rajagopal said.

He added that the company continues to further strengthen the business in terms of adding beds, expanding medical programs and adding clinical talent.

“Our next phase of growth will be led by our brownfield expansion strategy, with approximately 1,500 beds coming on stream over the next few years, primarily from key existing Fortis facilities such as FMRI, Mohali, Shalimar Bagh, BG Road, and Noida,” Rajagopal said.

He added that this along with its focus on digital initiatives in both medical and non-medical aspects will enable the healthcare firm to further strengthen its long-term business prospects.

With inputs from PTI

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