Fortis Healthcare trades flat despite poor December-quarter earnings

Fortis Healthcare was trading flat on Thursday even after the company reported a consolidated net loss of Rs 191 million for the quarter ended December 2017 against a profit of Rs 4.5 billion year-ago periods.

At 12:15 pm, the stock was trading at Rs 161, up 0.7%. On comparison, the  S&P BSE Sensex was ruling at 34,120, down 0.2%. The stock hit a high and low of Rs 167.4 and 156.9 respectively, so far in trade.

The company also reported its September quarter net loss at Rs 236.1 million after it had sought a 15-day extension to declare earnings for the second and third quarter of the current financial year citing statutory auditors' inability to complete the audit before the stipulated board meeting.

The results of Fortis Healthcare come amid controversy and scrutiny of the company's finances over alleged regulatory lapses in transfer of funds to some promoter-linked firms.

Total income during the December quarter stood at Rs 11.6 billion. It was Rs 11.9 billion in the same quarter previous fiscal.