Fortis Q4 net up 8.09% to Rs 29.39 crore

Fortis Healthcare (India) today reported a 8.09% increase in consolidated net profit to Rs 29.39 crore for the fourth quarter ended March 31, 2011 riding on robust sales from its expanded network of hospitals.

In the corresponding period previous fiscal the company's consolidated net profit was Rs 27.19 crore,it said.

Total income of the company for the quarter ended March 31, 2011 stood at Rs 415.62 crore as against Rs 329.52 crore in the same period previous fiscal.

"At Fortis, we have once again had a milestone year with significant network expansion, a stupendous increase in clinical competencies and seamless integration of erstwhile Wockhardt hospitals..," Fortis Healthcare (India) MD Shivinder Mohan Singh said.

 During the past year, the company had added eight hospitals in the network, including three large greenfield facilities in the metro cities, he added.

 At present the healthcare chain has a total of 56 hospitals across India with a capacity of over 8,000 beds.

"We have been trying to reach out to tier II, tier III and tier IV cities and that will continue," Singh said.

 During the quarter under review, international patient revenue grew by 61% to Rs 31.7 crore compared to the corresponding quarter in the previous fiscal, reflecting a contribution of 6.6% to the total network revenues, the company said.

For the financial year ended March 31, 2011 the company posted consolidated net profit of Rs 124.36 crore over Rs 69.48 crore for the previous fiscal.

Total income of the company stood at Rs 1,482.82 crore for the financial year ended March 31, 2011, as against Rs 937.94 crore for the year ended March 31, 2010.

"All the hospitals reported robust revenue growth. The performance at Fortis Escorts Jaipur, Fortis Malar Hospital Chennai, Fortis Hospital Noida, Fortis Hospital Mohali, Fortis Hospital Kalyan and Fortis Mulund Mumbai was exceptionally strong," the company said.