Fortis posts Rs. 22-cr loss in Q3

New Delhi, Feb 17, 2015 – Fortis Healthcare has posted a net loss of Rs. 22.28 crore for the quarter ended December 31 against a net profit of Rs. 389.1 crore during the corresponding quarter of the previous fiscal.

However, the company, which is in the process of exiting all its international assets, posted an increase in total income to Rs. 1,024.53 crore during the third quarter, from Rs. 1,018.72 crore.

During the quarter, the company gained Rs. 424.16 crore after Fortis diluted its shares in Hong Kong’s Quality Healthcare.

This is one of the reasons for the wide difference. In keeping with its move away from international businesses, Fortis is expected to complete the sale of RadLink-Asia Pte Ltd by the first quarter of the coming fiscal, Shivinder Mohan Singh, Executive Vice-Chairman, Fortis Healthcare, said.

The company had announced the sale, worth more than Rs. 655 crore, in September 2014.

The company has also put another hospital in Singapore — Fortis Surgical Hospital — on the block as it’s planning to exit that asset, too, Singh said during a call.

On Friday, Fortis Healthcare’s scrip closed at Rs. 138.95 on BSE, up 1.13 per cent, while the benchmark Sensex gained 1.01 per cent to 29,094.93 points.