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Fortis Q2 net loss widens to Rs 28.43 cr

Last Updated: Friday, November 9, 2012 - 19:46

New Delhi: Fortis Healthcare Friday reported a widening of consolidated net loss to Rs 28.43 crore for the quarter ended September 30, 2012 over the same period last fiscal.

The company had posted a net loss of Rs 12.32 crore for the quarter ended September 30, 2011, Fortis Healthcare said in a statement.

Consolidated total income of the company however rose to Rs 1,493.45 crore for the quarter under consideration from Rs 614.22 crore for the corresponding period previous fiscal.

The India business of the company recorded revenue of Rs 724 crore, a growth of 18 per cent over the corresponding quarter previous fiscal, Fortis said.

Commenting on the results, Fortis Healthcare Group CEO Vishal Bali said: "I am particularly pleased with the sustained improvement in the operating performance of the company over the three sequential quarters."

The hospital business revenue stood at Rs 573 crore for the quarter while the company's diagnostics business posted revenues of Rs 150 crore, the company added.

International business contributed to 52 per cent of the consolidated revenues and stood at Rs 770 crore, Fortis said.

In October, the company listed it's Religare Health Trust on the Singapore Exchange and the "proceeds of nearly Rs 2,200 crore from the RHT listing will be used to de-lever our balance sheet," Bali said.

The healthcare provider has an announced capacity of over 12,000 beds across its 76 hospitals in 11 countries.

Shares of Fortis Healthcare Friday closed at Rs 103.35 a share on BSE, down 0.86 per cent from its previous close.


First Published: Friday, November 9, 2012 - 19:46
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