Fortis Healthcare Ltd's consolidated net loss of Rs53.90cr in Q1FY19, vs net profit of Rs23.20cr in Q1FY18 : Misses Estimates

The company’s consolidated revenue stood at Rs1,042.04cr, down 9.91% yoy and 4.08% qoq.

Aug 15, 2018 06:08 IST India Infoline Research Team

Fortis Healthcare Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 1,042.04 [9.9]
EBITDA 8.08 [90.6]
EBITDA Margin (%) 0.8 [667]
Net Loss (adjusted) 53.90 0
***EBITDA margin change is bps

Fortis Healthcare’s revenue in Q1FY19 declined 9.9% yoy to Rs1,042cr. EBITDA declined 90.6% yoy to Rs8.1cr in Q1FY19 vs. Rs86.1cr in Q1FY18. EBITDA margins declined 667bps yoy and 39bps qoq to 0.8% in Q1FY19. Adjusted loss in Q1FY19 was at Rs53.9cr vs. profit of Rs23.2cr in Q1FY18 and loss of Rs80.1cr in Q4FY18.
  • Hospital Business revenues in Q1FY19 stood at Rs820cr vs. Rs939cr in Q1FY18.
  • Operating EBITDA of the Hospital Business was at Rs42cr with a margin of 5.1% in Q1FY19.
  • Diagnostic Business Net Revenues stood at Rs216cr vs. Rs212cr in Q1FY18.
  • Diagnostic Business EBITDA was at Rs40.5cr with a margin of 18.7%.
  • Company has received 99.7% votes in favour of the preferential allotment to IHH and the transaction is now awaiting other regulatory approvals.
  • Company has started to recruit new doctors in select specialties and is relaunching various Marketing Initiatives and campaigns.
  • The ARPOB (Average Revenue per Occupied Bed) grew to Rs1.53cr in Q1FY19 vs. Rs1.51cr in Q1FY18.
  • ALOS (Average length of stay) declined to 3.39 days in Q1FY19 vs. 3.53 days in Q1FY18.
  • Occupancy levels decreased from 71% in Q1FY18 to 62% in Q1FY19 and company is targeting occupancy at 70% in Q4FY19.

Technical View:

Fortis Healthcare Ltd ended at Rs. 146.05, up by 1.25 points or 0.86% from its previous closing of Rs. 144.80 on the BSE.
The scrip opened at Rs. 145 and touched a high and low of Rs. 146.80 and Rs. 145 respectively. A total of 18,94,685 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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