Fortis Healthcare, a leading integrated healthcare delivery service provider, has suffered heavy setback during the second quarter ended September 2014 and it incurred consolidated net loss of Rs. 58.12 crore as against a net profit of Rs. 32.06 crore. The company divested its holding in Fortis Healthcare Australia Pty, Fortis Hoan My Medical Corpn, Vietnam, Radlink Asia Pte Ltd, Singapore and Quality Healthcare, Hong Kong during last one year period. Its income declined by 19.7 per cent to Rs. 1,018 crore from Rs. 1,268 crore. EPS worked out to negative Rs. 1.22 as against Rs. 0.41 in the last period.
For the first six months ended September 2014, Fortis' income declined by 26.9 per cent to Rs. 2,027 crore from Rs. 2,771 crore in the corresponding period of last year. With divestment in few subsidiaries, its international income declined sharply to Rs. 110 crore from Rs. 1,106 crore in the same period of last year. Its net loss amounted to Rs. 104 crore as compared to Rs. 189 crore.
Aditya Vij, CEO, said, “The company is on a strong footing. With Fortis' eminent doctors and key executives in focal positions of responsibility I feel confident that the company's future is in good hands.” Vij is set to leave the company by the end of the year.
Post the international divestments Fortis is also realigning its talent to further consolidate and grow its business. In recent months it has structured the company to meet the country's emergent challenges whilst improving organizational efficiency and effectiveness. Currently, Fortis Healthcare operates its healthcare deliveiry services in India, Singapore, Dubai, Mauritius and Sri Lanka with 66 healthcare facilities, over 10,000 potential beds and 282 diagnostic centres.