Fortis Healthcare Ltd on November 10 reported a 15.7 percent year-on-year (YoY) fall in net profit at Rs 183.9 crore for the July-September quarter.
Fortis had a net profit of Rs 218.2 crore in the same period a year ago.
The hospital operator reported revenue at Rs 1,770 crore, reflecting a year-on-year rise of 10 percent from Rs 1,607 crore.
Its earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at Rs 329.9 crore against Rs 303.2 crore in the same period of the pervious year, the company said in a statement. The EBITDA margin for the July- September quarter was at 18.6 percent, lower than 18.9 percent for the same period a year ago.
Occupancy stood at 68.7 percent in Q2FY24, marginally lower than 69.6 percent in Q2FY23. Average Revenue per Operating Bed ARPOB grew 11.8 percent to Rs 2.21 crore for Q2FY24 from Rs 1.97 crore in Q2FY23.
International patient revenues stood at Rs 126.7 crore, a growth of 15.6 percent over Q2FY23 and 10.6 percent over Q1FY24. International patient revenue contribution increased to 8.3 percent of hospital revenues versus 8.0 percent in Q2FY23 and Q1FY24.
Revenues from digital channels including website, mobile application and digital campaigns witnessed a growth of 27.6 percent in Q2FY24 compared to Q2FY23 and 22.4 percent growth compared to Q1FY24. Digital revenues contributed 25.6 percent to the overall hospital business revenues in Q2FY24 versus 22.5 percent in Q2FY23.
"Our focus on improving our specialty mix has led to a 13.4 percent growth cumulatively in our top 6 specialties with surgical contribution improving to 61.2 percent versus 60.5 percent in Q2 of the previous year....these along with our brownfield bed expansion plans and a continuing focus on inorganic opportunities are expected to drive further growth in the business,” said Dr Ashutosh Raghuvanshi, MD and CEO in a press statement.
(This is developing story, please come back for more updates)
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