Fortis Healthcare Q2 Results: Firm posts Rs 218 crore profit led by strong hospital business, overseas patients
‘s net profit rose 67% year-on-year (YoY) to Rs 218 crore in Q2FY23 helped by a strong performance of its hospitals and traction in international patient revenues.
The company reported a net profit of Rs 131 crore in the corresponding quarter of the previous year. The revenues rose 10% YoY to Rs 1607 crore in Q2FY23 compared to 1463 crore in Q2FY22.
The earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 316 crore in Q2FY23, improving by 9% YoY. The EBITDA margin stood at 20%.
The hospital business revenues grew 18% YoY to Rs 1,297 crores in Q2FY23 versus Rs 1099 crores in Q2FY22.
said the growth in hospital business was led by higher occupancy, a better product mix and a 164% increase in international patient revenues.
The ARPOB (average revenue per occupied bed) was Rs 1.97 crore in Q2FY23, compared to Rs 1.87 crore in Q2FY22. The average length of stay, a measure of the hospital’s ability to efficiently monetise assets stood at 3.75 days.
The average occupancy rate rose to 69.6%, compared to 64.2% in the corresponding period of the previous year. The diagnostics business net revenues dropped 15% YoY to Rs 310.2 crore primarily impacted by lower covid and its allied test volumes.
“Efforts are ongoing to ensure that as our hospital bed expansion plans fructify, we have the requisite medical talent and infrastructure to support such expansion,” said Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare
Fortis has 4,100 operational beds and 400 diagnostics centres.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
