Fortis Healthcare Profits Soar By 39.9%, Consolidated Revenue At Rs 1,607 Cr In Q2FY23
Fortis Healthcare, one of the biggest hospital chains in India announced its consolidated results for the Second Quarter that ended on 30th September 2022 on Friday. Fortis Healthcare reported a jump of 39.9 per cent in its net profit of Rs 218 crores quarter on quarter against its net profit of Rs 131 crores recorded in the corresponding quarter last year.
On the other hand, the hospital chain's consolidated revenue grew by 9 per cent quarter on quarter to be recorded at Rs 1,607.2 crores against the hospital group's corresponding quarter’s earnings in the previous year which stood at Rs 1,462.5 crores
Fortis EBITDA for the September quarter grew by 8.1 per cent and stood at Rs 318.5 crore up from Rs 292.4 crore registered in the second quarter of the previous year.
The hospital's EBITDA margins came in at 19.8 per cent in quarter two of the financial year 2023 (Q2FY23) versus 20 per cent recorded in Q2FY22.
“Our Q2 FY23 consolidated results reflect the robust performance of our hospital business that now contributes ~77% to our consolidated EBITDA and has seen healthy margin expansion. The hospital business performance has enabled us to maintain our consolidated margins at around 20% despite covid volumes significantly impacting the diagnostics business," said Ravi Rajagopal, Chairman, Board of Directors, Fortis Healthcare.
