Fortis Healthcare Net profit Increases 40% in Q1 FY25

Fortis Healthcare, a key player in healthcare services, has reported a 40.4% increase in net profit to Rs. 174 crore in the first quarter ending June 2024, a comparison to Rs. 124 crore during the corresponding period of the previous financial year.

Revenue from operations increased by 12.2% year-over-year to Rs. 1,859 crore when compared to Rs. 1,657 billion earned during the same timeframe in the previous year. Operating EBITDA increased by 25.5 percent year on year to Rs. 343 crore out of Rs. 273 hundred million. EBITDA margin increased to 18.4 per cent from 16.5 per cent the previous year. Hospital business experienced a 14.4 per cent year-over-year revenue increase to Rs. 1,549 crore in comparison to Rs. 1,354 crore during the identical timeframe in the previous year.

The diagnostic sector's net revenue saw a 2% increase to Rs. 309 crores as opposed to Rs. 303 crore in the same time frame. Performance in the current period was greatly affected by the rebranding activity carried out in May 2023.

The healthcare services major had a net debt of Rs. as of June 30, 2024. 308 crore with a Net Debt to EBITDA ratio of 0.22x, compared to 0.35x in the same quarter of the previous fiscal year (based on Q1 annualized EBITDA).

Ravi Rajagopal, chairman, board of directors, Fortis Healthcare stated, “The mainstay of our performance continues to be the hospital business which presently contributes approximately 84% to our consolidated EBITDA. We are progressing well on our plans to add capacity of close to 700 beds in this fiscal year across our key facilities including Faridabad, Anandpur, Shalimar Bagh and Noida and will also shortly commission the 350 bed Manesar facility which we acquired in FY24".