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Fortis Healthcare posts first-quarter loss


(Reuters) - Indian hospital operator Fortis Healthcare Ltd, which recently agreed to be bought by Malaysia's IHH Healthcare Bhd, reported a quarterly loss on Tuesday.The cash-strapped firm booked a net loss of 707.4 million rupees ($10.11 million) for the three months ended June 30, compared with a profit of 52.9 million rupees in the same period a year earlier, Fortis said.Income from operations fell 9.9 percent to 10.42 billion rupees. The results come after a prolonged takeover battle, which ended with IHH set to take control of Fortis after its bid of up to $1.1 billion was chosen over a ...

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First Published: Tue, August 14 2018. 19:24 IST