Fortis Healthcare's Financial Pulse: Growth in Hospital Segment Fuels Profit

Fortis Healthcare reported a 5% increase in net profit to Rs 193 crore for Q2 2024, driven by strong performance in the hospital segment. Revenue rose to Rs 1,988 crore, with plans to expand bed capacity by 700 across key facilities. Shares ended slightly down at Rs 620.90 on BSE.

Fortis Healthcare has announced a 5% rise in its consolidated net profit to Rs 193 crore for the second quarter ending September 30, 2024. This growth is attributed to robust performance from the hospital segment.

The healthcare provider witnessed an increase in revenue to Rs 1,988 crore for the September quarter compared to Rs 1,770 crore in the same period last year, as per a regulatory filing. The hospital sector was a significant contributor, making up approximately 82% of the consolidated EBITDA, revealed Fortis Healthcare MD and CEO Ashutosh Raghuvanshi.

The company is also moving forward with its plans to add about 700 beds this fiscal year across various facilities including those in Faridabad and Noida. Despite this positive momentum, shares of the company concluded the week with a slight dip of 0.42% at Rs 620.90 each on BSE.

(With inputs from agencies.)