The company posted a profit after tax (PAT) of Rs 254 crore in the year-ago period.
Revenue increased to Rs 2,265 crore as against Rs 1,928 crore in the October-December quarter of last fiscal, Fortis Healthcare said in a statement.
PAT for the third quarter includes an exceptional loss of Rs 55.2 crore, which pertains to the one-time impact of new labour codes, set off by the reversal of impairment in an associate company of Rs 9.4 crore, resulting in a net impact of Rs 45.9 crore, it stated.
“We have witnessed a healthy growth in our hospitals business within all key specialties noticeably renal sciences and orthopedics which grew 27 per cent and 20 per cent, respectively, over the corresponding previous period,” Fortis Healthcare MD and CEO Ashutosh Raghuvanshi noted.
The company’s acquisition in Bengaluru enables it to strengthen its presence in this market from around 900 beds across seven facilities with a potential to scale up to over 1,500 beds in the future, he added.
“We continue to progress on our brownfield expansion plans and are evaluating further inorganic opportunities in our existing clusters,” Raghuvanshi said.The sustained recovery seen in both revenue and EBITDA margin for the diagnostics business is encouraging, and the company expects this to progressively improve, he said.
Shares of the company on Friday ended 1.22 per cent lower at Rs 916.90 apiece on BSE.
