Fortis Healthcare Q2 net soars nearly six-fold to Rs 75 cr

Fortis Healthcare today reported nearly six-fold jump in its net profit to Rs 74.78 crore for the second quarter ended September 30.

Billionaire brothers Malvinder Mohan Singh and Shivinder Mohan Singh-promoted hospital major had posted a net profit of Rs 12.97 crore in the July-September quarter last year, Fortis said in a filing to the Bombay Stock Exchange.

Net profit of Rs 74.78 crore in the second quarter also includes the net profit of Rs 53.9 crore made on the divesture of Singapore-based hospital chain Parkway investments, the filing added.
    
Total income of the company rose to Rs 357.86 crore in the September quarter from Rs 190.49 crore in the year-ago period.
    
"The last quarter has been very exciting for us with increasing footholds in both Indian and overseas markets," Fortis Healthcare MD Shivinder M Singh said.
    
The healthcare services provider attributed the smart quarter results to the impressive performance by its facilities in Noida, Mohali, Malar and Japur where the company witnessed a growth of 50 per cent, 37 per cent, 37 per cent and 34 per cent respectively.
    
Bolstered by the handsome quarter numbers, shares of Fortis Healthcare jumped by 3.01 per cent to Rs 169 in the early trade on BSE.