Fortis Healthcare Q2 net profit at Rs 124 cr

Fortis Healthcare on Wednesday reported a consolidated net profit of Rs 124.04 crore for the September quarter.

The healthcare major had reported a net loss of Rs 141.99 crore in the July-September period of 2018-19.

Revenue from operations rose to Rs 1,212.17 crore as against Rs 1,139.90 crore in the same period of previous fiscal.

"The company continues to witness progressively improving quarters in both the hospitals and the diagnostics business," Fortis Healthcare Board Chairman Ravi Rajagopal said.

This will lay emphasis on looking at the business holistically in its various elements including critical aspects such as talent, patient care outcomes, information technology and other important functional areas, he added.

"The board will support and enable management to drive future performance and create long term sustainable value in the business for all stakeholders," Rajagopal said.

Fortis Healthcare MD and CEO Ashutosh Raghuvanshi said the company continues to witness an upward trend in business operations and will remain focused on optimally leveraging its portfolio of assets.

"While challenges remain, our strategic actions and initiatives lay emphasis on consolidation and growth. With a stronger balance sheet and improving operational performance we are actively pursuing our investment and capex plans so as to enable and provide our clinicians and administrators a relatively stronger ecosystem for driving future performance," Raghuvanshi said.

Simultaneously, the healthcare provider continues to foster a culture of cost consciousness across the organisation without compromising on quality and care, he added.

"All these should gradually should also reflect in the performance of the company over the medium and long term and I do believe that second quarter results are reflective of this intent and direction," Raghuvanshi said.

Fortis Healthcare shares on Wednesday ended 1.07 per cent up at Rs 146.70 apiece on the BSE.