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Hospinews
Malar Hospital Reports 64% Q-on-Q Growth in Operating Income
Net profit up by 120% in the quarter, at Rs 36 lakh
 The
180-bed Malar Hospitals Limited, Chennai, a part of the Fortis network of hospitals,
reported robust performance for the quarter ended September 30, 2008, according
to the hospital. Said Shivinder Mohan Singh, Chairman, Malar Hospitals Limited,
"The operating income for the quarter stood at Rs 745 lakh as against Rs
453 lakh in the corresponding quarter in last fiscal, thereby registering a
growth of 64 per cent. Net profit (PAT) for the quarter stood at Rs 36 lakh
as compared to Rs 16 lakh a growth of 120 per cent. The Profit Before Tax to
Revenue (PBT margins) improved to 7.4 per cent as compared to 3.8 per cent for
the corresponding quarter, last fiscal."
Operating income for the six months ended September 30, 2008 grew to Rs 1,299
lakh, thus registering an impressive growth of 52 per cent. The net profit for
the period grew to Rs 73 lakh, a growth of 28 per cent. The PBT margins improved
by 1.8 to 8.7 per cent during the same period, he added.
The company has strengthened the medical team and has also revamped the processes
for improving the quality of care and service excellence. The improved performance
of Malar Hospitals is a reflection of the ability of the new team in quickly
ramping up the footfalls and occupancy, thereby improving the performance of
the hospitals. During the period, the company has successfully implemented the
new Hospital Information System which has enabled to optimise the processes,
improve efficiency and enhancing the quality of services, while optimizing the
costs at the same time.
The company has incurred a significant capital expenditure on engineering and
medical equipment in order to add new medical programme and elevate the level
of care.
"Malar Hospitals Limited is showing an impressive growth in revenues and
PAT post it's acquisition by Fortis Healthcare. The hospital is on track to
start high-end cardiac and neurosciences programmes apart from strengthening
the existing orthopaedics and obstetrics programmes,” said Singh.
"The results represent improved margins and increased bed occupancy. With
further investments planned for the hospital, I believe Malar Hospital will
emerge as a stronger healthcare delivery player in South India," added
Singh.
EH News Bureau
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