Fortis Healthcare (India) today reported a consolidated net loss of Rs 12.59 crore for the quarter ended September 30 due to higher interest costs and forex losses. The company had posted a net profit of Rs 74.78 crore for the corresponding period last year.
The company's consolidated total income increased by 70.49 per cent to Rs 610.09 crore (Rs 357.85 crore). This includes Rs 127 crore from the newly added Diagnostics Vertical (SRL).
“Interest costs went up during the period due to incremental borrowings and forex movements on FCCBs. This has led to a net loss of Rs 12.6 crore for the quarter,” the company said.
During the quarter, the company's tax expenses increased to Rs 13.04 crore from Rs 3.03 crore in the same period last year.
Commenting on the results, Mr Aditya Vij, CEO, Fortis Healthcare (India) Ltd, said, “While maintaining our growth momentum with the introduction of new hospitals in India, we also declared our planned integration with Fortis International. This consolidation will unlock synergies in growth, talent, medical verticals and cost efficiencies, helping to cross-pollinate knowledge and capabilities across the enterprise.”
Fortis share price was down by 4.19 per cent to Rs 123.40 at close on the BSE.