Fortis Healthcare Q3 net dips 15% to Rs 29 cr

Fortis Healthcare India today posted 15.18% drop in consolidated net profit for the third quarter ended December 31, at Rs 29.26 crore.

The company had reported a net profit of Rs 34.50 crore in the same period last fiscal.

Total income of the company however, increased to Rs 657.39 crore in the October-December quarter of the current fiscal from Rs 408.36 crore in the same quarter last fiscal, Fortis Healthcare said in a fling to the BSE.

Commenting on the results, Fortis CEO India Business Aditya Vij said, "We remain committed to patient-centric healthcare and have renewed our focus on medical excellence, with the appointment of Bishnu Panigrahi to lead our medical operations group.

"We continue to expand our presence in India and have launched new medical programmes and growth initiatives across various hospitals".

During the quarter, the company announced the integration with Fortis Healthcare International Pvt Ltd, a Singapore-based integrated healthcare delivery company.

The deal was consummated in January, 2012, the filing said.

Fortis posted a third quarter standalone net profit of Rs 25.93 crore, compared with the Rs 42.73 crore in Q3 FY10-11, it said.

Shares of the company were trading at Rs 108.10, up 0.09% from the previous closing price on the BSE in the morning trade.