Fortis reports 90% jump in Q1 on one-time gain

Healthcare chain Fortis today reported a 90% jump in net profit in the April-June quarter due to a onetime gain of Rs 87.25 crore.

Net consolidated profit stood at Rs 87.28 crore against a loss of Rs 45.80 crore in same quarter of last year. Income from operations rose 3% to Rs 1,040 crore.

The company gained Rs 78.44 crore from sale of investment in Singapore based Radlink-Asia Pte Ltd. A sum of Rs 8.81 crore was realised from sale of investment in Fortis Healthcare Singapore Pte Ltd.