Fortis Healthcare today reported a net profit of Rs 453.29 crore for the third quarter ended December 31, 2016-17.
Fortis Healthcare reported a healthy set of numbers for the third quarter. The firm clocked a revenue growth of over 10 percent compared to the corresponding quarter last fiscal.
Bhavdeep Singh, CEO, Fortis Healthcare says Fortis is looking at other payment options like digital wallets and is doing its best to not turn patients away.
However, the company's consolidated total income from operations rose to Rs 1,195.74 crore during the quarter under review from Rs 1,078.54 crore in the same period a year ago.
Fortis Healthcare's board has given an in-principle nod for the demerger of its diagnostics business. The demerger, on which a committee will take a decision on August 19, is an opportunity to unlock value, says CEO Bhavdeep Singh.
The hospital's occupancy rate is hovering around 72-73%, which Singh claims is higher than the industry. In the diagnostic business, Fortis expects to see margins in the high 20s.
The company had posted a net loss of Rs 58.12 crore for the corresponding period of the previous fiscal, Fortis Healthcare said.
Billionaires Malvinder and Shivinder are relentless in their efforts to make Fortis Healthcare a global player. Will they succeed?