Fortis registers Q3 net loss at Rs 55 crore

Fortis Healthcare today reported a net loss of Rs 55.25 crore for the third quarter ended December 31, 2015.

The company had posted a net loss of Rs 22.28 crore in the same quarter of the previous financial year, Fortis Healthcare said in a statement.

The results for third quarter and 9 months of the financial year 2015-16 are not comparable due to progressive divestments of the company's international businesses namely RadLink Asia, Singapore and Fortis Surgical Hospital Singapore which were a part of the company's business in the corresponding periods of the last financial year, it said.

Company's consolidated total income from operations stood at Rs 1,041.12 crore during the quarter under review compared with Rs 1,024.53 crore in the year-ago period.

Commenting on the results, Fortis Healthcare CEO Bhavdeep Singh said: "We are witnessing continued traction in our operations with significant gains in network bed occupancy, revenue and Ebitda margins alongside improvements in efficiency."

The company will get stronger and better in the coming quarters as "we further synergise and accelerate our efforts through the network on multiple fronts with a sharp focus on clinical excellence and patient experience," he added.

Fortis Healthcare shares closed 2.62 per cent up at Rs 172.45 per scrip on the BSE.