Fortis Healthcare's Remarkable 40% Surge in Q1 Profits

Fortis Healthcare posted a 40% rise in its consolidated profit after tax (PAT), reaching Rs 174 crore for the Q1 ended June 30, 2024. This surge was driven by robust performance in its hospital business. Revenue also climbed to Rs 1,859 crore from Rs 1,657 crore in the previous year.

Fortis Healthcare has reported a significant 40 percent increase in its consolidated profit after tax, reaching Rs 174 crore for the first quarter ending June 30, 2024. This impressive growth was primarily driven by the strong performance of its hospital business.

In the same quarter of the previous fiscal year, the healthcare giant registered a profit after tax (PAT) of Rs 124 crore. The company's revenue from operations also saw a rise, climbing to Rs 1,859 crore compared to Rs 1,657 crore in the corresponding period of the last year, as stated in a late-night filing on Tuesday.

Chairman Ravi Rajagopal highlighted that the hospital business remains the cornerstone of their performance, contributing around 84 percent to their consolidated EBITDA. The company is on track to add nearly 700 beds this fiscal year across several key facilities, including Faridabad, Anandpur, Shalimar Bagh, and Noida. A new 350-bed facility in Manesar is also set to be commissioned soon.

(With inputs from agencies.)