Fortis Q1 PAT at Rs 14.03cr, prepares for next growth phase

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Fortis Q1 PAT at Rs 14.03cr, prepares for next growth phase

Fortis Healthcare (India) posted a consolidated net profit of Rs 14.03 crore for the first quarter ended June 30, 2011.

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Fortis Healthcare (India) posted a consolidated net profit of Rs 14.03 crore for the first quarter ended June 30, 2011. The company had posted a net loss of Rs 14.31 crore for the same period previous fiscal, Fortis Healthcare (India) said in a statement.

Total income of the company stood at Rs 483.32 crore for the first quarter ended June 30, 2011, against Rs 337.92 crore in the same period previous fiscal.

"Fortis remains focused on delivering on its promise and we are preparing for the next phase of growth: to bring quality healthcare, at affordable prices, to those who currently lack access to reliable healthcare," Fortis Healthcare (India) MD Shivinder M Singh said.

On standalone basis, the company posted a net profit of Rs 11.74 crore for the June quarter, compared to Rs 27.64 crore in the same period previous fiscal.

The company's total income stood at Rs 68.22 crore for the June quarter, against Rs 61.55 crore in the same period last financial year.

"We are intent on extending our presence beyond the large Indian cities, into India's tier II and tier III towns over the next three years," Fortis Healthcare (India) CEO Aditya Vij said.

Fortis commissioned its first hospital in 2001 at Mohali, near Chandigarh, and has expanded its operations to become a network with an over 9,700 bed capacity across 62 hospitals including 13 hospitals under project stage.

Shares of  Fortis Healthcare (India) were trading at Rs 159.90 on the Bombay Stock Exchange in late afternoon trade, up 2.43 per cent from its previous close.