Fortis Healthcare Ltd. (Fortis), India’s leading healthcare delivery Company, today, announced its consolidated results for the quarter ended December 31, 2014 (Q3FY15).
India Business - Key Financial Highlights for the Quarter (Q3FY15)
Reported Group Financial Highlights for Q3FY15
The reported results for Q3FY15 are not comparable to the corresponding previous period due to the progressive divestment of the Company’s international business namely Quality Healthcare, Hong Kong in the course of Q3FY2014.
Commenting on the results, Mr Shivinder Mohan Singh, Executive Vice Chairman, Fortis Healthcare Limited, said, “There has been a significant uptick in our operating margins both in the consolidated and hospital business. We have seen good performance in our stable state hospitals, greater contributions from our new facilities and good results in diagnostics. The quality of our revenue stream too has shown marked improvement with a steady increase in the numbers and complexity of clinical procedures handled across medical specialities, at our hospitals. I believe our efforts at generating sustainable, repeatable and predictable outcomes through medical excellence and patient centric care at affordable prices, underpin our performance.”
The net debt of the Company as on 31 December 2014 was at Rs 1,301 Cr, compared to Rs 1,071 Cr as on 31 December 2013 representing a comfortable net debt to equity ratio of 0.27x (as compared to 0.21x on 31 December 2013).
During the quarter, Fortis received its first dividend of approx. Rs 38 Cr for H1FY15 from Religare Health Trust (RHT) for ~ 28% ownership in the trust as a sponsor.
Key Highlights - Hospital Business
Key Highlights - Diagnostics Business
Awards & Accolades
Select Fortis’ facilities continued to win accolades.
Awards to our Senior Doctors for meritorious service
About Fortis Healthcare Limited
Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Singapore, Dubai, Mauritius and Sri Lanka with 55 healthcare facilities (including projects under development), approximately 10,000 potential beds and 276 diagnostic centres. In a global study of the 30 most technologically advanced hospitals in the world, its flagship, the Fortis Memorial Research Institute’ (FMRI), was ranked No.2, by ‘topmastersinhealthcare.com, and placed ahead of many other outstanding medical institutions in the world.
DISCLAIMER
This press release may contain forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Company may alter, modify or otherwise change in any manner the content of this press release, without obligation to notify any person of such revision or changes.
For further details please contact:
Raghu Kochar / Nibha Bhandari Vyas Anurag Kalra / Gaurav Chugh
Fortis Healthcare Ltd Fortis Healthcare Ltd
9811617256 / 98110 65557 9810109253 / 9958588900