Moneycontrol Bureau
Hospital chain operator Fortis Healthcare's third quarter consolidated net profit jumped to Rs 705 crore from Rs 27 crore in the year ago quarter on the back of exceptional gain on dilution of stake in Religare Health Trust.
Religare Health Trust was listed on the SIngapore Stock Exchange via an IPO in October 2012.
Excluding the Rs 974 crore gain, other income, finance costs and amortization and depreciation, its profit was up 82 percent to Rs 153 crore, last quarter.
Fortis Healthcare's consolidated total income in Oct-Dec more than doubled year-on-year to Rs 1,539 crore.
The company's tax expense rose to Rs 167 crore from Rs 8 crore and finance costs increased to Rs 158 crore from Rs 60 crore, it said on Tuesday.
Fortis' other income declined to Rs 47 crore from Rs 50 crore, last quarter.
Fortis Healthcare shares closed up 0.4 percent at Rs 101.60 on NSE on Tuesday. The results were announced after markets closed.
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