Fortis Healthcare’s consolidated net loss for the first quarter of this fiscal, ended June 30, increased to Rs 221.3 crore compared with Rs 60.42 crore during the same period last year.
In a statement issued here on Thursday, the company attributed the loss to a one-time forex loss related to the divestment of Dental Corporation, Australia, which was completed on May 31.
Fortis Healthcare said the company will strengthen its focus in geographies and verticals that present better growth opportunities, especially markets such as India.
Vishal Bali, Group Chief Executive officer, said: “Our India business continues to show robust organic growth. Over the coming quarters, we will continue to strengthen the organisation organically.”
The company’s net debt during the quarter stood at Rs 3,283 crore, which was down by Rs 2,487 crore.
The company added that it is likely to complete an agreement with a wholly-owned subsidiary of Chandler Holdings Ltd to sell its entire stake in its Vietnam business for $80 million.
The group’s revenues rose by eight per cent during the quarter to touch Rs 1,517 crore.