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Company Watch
Fortis Ends Fiscal With Net Profit of Rs 20.8 crore
Operating revenue at Rs 630.7 crore, 24.4 %, EBIITDA grows
by 85.5%
Bhavdeep Singh |
Fortis Healthcare Limited (FHL), one of India's leading chain
of private hospitals, recently announced the audited consolidated results for
the three months (Q-4) and year ended 31st March 2009.
The operating revenue for Q4 FY09 at Rs 172.8 crore showed growth of 30 per
cent over Q4 FY08. The total revenue was reported at Rs 177 crore. Consolidated
profit after tax stood at Rs 4.8 crore as against loss of Rs 9.9 crore in the
corresponding period last year.
Said Bhavdeep Singh, CEO, FHL, "It was an eventful year, wherein the company
expanded its network, medical programmes and operating bandwidth. The healthy
performance delivered by Fortis Escorts Heart Institute, Malar Hospital, Chennai,
Fortis Escorts Amritsar and other hospitals in the network is an evidence of
increasing confidence in the Fortis brand as a quality healthcare provider.
The increasing focus on operating efficiencies and quality also facilitated
in making this a first ever profitable year,"
Malar Hospitals, the company's first network hospital in Southern India reported
significant growth in revenue. The FY09 revenues grew by 83 per cent and stood
at Rs 33.3 crore. The cardiac programme, launched in December '08, has quickly
established the hospital as a preferred destination for treatment of cardiac
ailments.
The company took over the operations and management of Fortis Clinique Darné
in February 2009. Aas also invested through picking up ~ 29% equity in the company.
It also acquired a majority equity stake (>67%) in Fortis Hospital, Seshadripuram,
Bangalore.
Widening the depth and reach of its network in Western India, the company recently
assumed the operations and management of 280-bed super specialty SL Raheja Hospital
in Mumbai and is committed to bringing world class healthcare to residents of
the city. Further the company also took over management contract in Fortis Modi
Hospital in Kota, Rajasthan.
Said Shivinder M Singh, MD, Fortis Healthcare, "The results are testimony
to the capabilities built in the company for achieving impressive growth, with
a competence to grow and turnaround new additions to our network without losing
focus on costs and operating efficiencies."
- Fortis Escorts Amritsar and Fortis Escorts
Heart Institute led the performance. Record growth in operating revenue
by 59% and 45% respectively.
- Cardiac sciences, orthopedics and neuro
sciences grew by 36%, 45% and 37% respectively.
- Added three hospitals to its network. First
International foray through ~ 29% stake in Clinique Darné (now
known as Fortis Clinique Darné), in Mauritius.
- Strengthened presence in Southern and Western
India through addition of Fortis Hospital Seshadripuram, Bengaluru and
Fortis Modi Hospital, Kota.
- To manage the company's current growth
pace, the company expanded its management bandwidth by induction of
Bhavdeep Singh as CEO.
- Fortis Hiranandani Hospital, Vashi commenced
IPD operations during the quarter.
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EH News Bureau
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