iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Fortis Healthcare Q1 PAT down nearly 54% YoY

8 Aug 2022 , 02:08 PM

While the revenue from the Hospitals business rose by 18.5% to Rs 1,192.4 crore, net Diagnostics revenue declined by 26.8% to Rs 295.5 crore in the first quarter. Expenses rose by 9% YoY to Rs 1,236.8 crore during the quarter. EBITDA fell 4% to Rs 271.8 crore in Q1 FY23 from Rs 283.1 crore in Q1 FY22. EBITDA margin was 18.3% in Q1 FY23 as against 20.1% in Q1 FY22. Profit before tax in Q1 FY23 stood at Rs 166.3 crore, down by 3.1% from Rs 171.7 crore in Q1 FY22. Net debt to EBITDA was at 0.54x vs 0.60x (basis annualized EBITDA of Q1FY23 and Q4FY22, respectively). Net debt was at Rs 585 crore versus Rs 549 crore in Q4 FY22. Ravi Rajagopal, chairman, board of directors, Fortis Healthcare, stated, ?Q1 FY23 has witnessed an encouraging start to the fiscal. With covid abating, our hospital business has shown a strong uptrend relative to the diagnostics business which has seen a decline in volumes due to a higher covid led base in both Q1 and Q4 of FY22. We continue to further strengthen the business in terms of adding beds, expanding medical programs, and onboarding clinical talent. Our next phase of growth would be led by our brownfield expansion strategy which would see approx. 1500 beds coming onstream in the next few years: largely in key existing Fortis facilities such as the likes of FMRI, Mohali, Shalimar Bagh, BG Road and Noida. This coupled with our focus on digital initiatives in both the medical and non-medical related aspects should enable us to further fortify our longer-term business prospects.? Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare, stated, ?The quarter gone by has witnessed a robust hospital business performance led by a better occupancy mix and a higher ARPOB which increased 21% versus Q1 FY22. We have added beds in select facilities such as Fortis Mulund and FMRI Gurugram and are well on track with our brownfield expansion plans. We have also expanded our oncology offerings with a new cancer care facility in New Delhi. Revenues from key specialties such as Oncology, Gastroenterology, Renal Sciences and Orthopedics have seen strong growth both versus the corresponding and the trailing quarters. The international patient revenues have also seen healthy traction in the quarter. With the pandemic receding significantly and covid volumes dropping, our diagnostics business has witnessed a decline. In addition, the diagnostics segment continues to witness competitive pressures and we are making all efforts to protect and further grow our market share in the business. ? Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates 26 healthcare facilities (including JVs and O&M facilities). The companys network comprises approximately 4,300 operational beds and approx. 400 diagnostics centres. The scrip advanced 3.12% to currently trade at Rs 273 on the BSE. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.