Fortis Healthcare, leading chain of private hospital with a network of 45 hospitals and a capacity of 6600 beds, has announced strong financial performance during the third quarter ended December 2009 with acquisition of 10 hospitals from Wockhardt and focus on key specialties. The company also added three hospitals viz., S L Raheja Hospital, Mumbai, Fortis Modi Hospital, Koda and Fortis Clinique Darne, Mauritius in its network. Its income from operations went up sharply by 44.9 per cent to Rs 229.48 crore from Rs 158.41 crore in the corresponding period of last year. Its net profit jumped by 329 per cent to Rs 21.74 crore from Rs 5.07 crore in the last period.
The company raised Rs 997 crore through rights issue and its equity capital increased to Rs 317.32 crore from Rs 226.67 crore.
Commenting on the results, Shivinder Singh, managing director, said, “The addition of the erstwhile Wockhardt family is going to create a new set of opportunities and allow us to leverage our joint leadership position. As is being witnessed quarter on quarter, our growth strategy is paying rich dividends not just financially but in bringing superior quality clinical care and patient focus to our most important customers – our patients. We hope to continue to provide them the high standards of Fortis care in the coming future.”
For the nine months ended December 2009, its income increased by 33.3 per cent to Rs 599.84 crore from Rs 449.94 crore and its net profit moved up by 163 per cent to Rs 42.26 crore from Rs 16.05 crore in the similar period of last year. Fortis has successfully completed acquisition of Wockhardt hospitals and and re-started the 414 bedded Kolkata project and Mulund hospital expansion.
With seven green field hospitals under various stages of construction and commissioning Fortis is well poised to serve the quality healthcare needs of a larger proportion of the Indian population.