Fortis Healthcare gains post Q3 earnings
Q3 consolidated net profit up 26-fold year-on-year at Rs 705 crore mainly on account of one-time net gain of Rs 1,005 crore on dilution of stake in Religare Health Trust
Fortis Healthcare has soared 5.5% to Rs 107 on reporting 26-fold rise in consolidated net profit at Rs 705 crore for the quarter ended December 31 2012 (Q3), mainly on account of exceptional one-time net gain of Rs 1,005 crore on dilution of stake in Religare Health Trust (RHT). It had posted net profit of Rs 27.02 crore for the same quarter of last fiscal.
“Consolidated total income from operations of the company also rose 153% to Rs 1,539 crore for the quarter under review as against Rs 606 crore for the same period year ago,” Fortis Healthcare said in a statement.
The stock opened at Rs 104 and a touched high of Rs 117 on NSE. As many as a combined 1.14 million shares have already changed hands on the counter in morning deals against an average sub 250,000 shares that were traded daily in past two weeks.
“Consolidated total income from operations of the company also rose 153% to Rs 1,539 crore for the quarter under review as against Rs 606 crore for the same period year ago,” Fortis Healthcare said in a statement.
The stock opened at Rs 104 and a touched high of Rs 117 on NSE. As many as a combined 1.14 million shares have already changed hands on the counter in morning deals against an average sub 250,000 shares that were traded daily in past two weeks.