Fortis Healthcare reports 8.6 percent decline in PAT to Rs 122.5 crore for Q1
New Delhi: Fortis Healthcare Ltd on Friday reported an 8.6 per cent decline in consolidated profit after tax to Rs 122.5 crore for the first quarter ended June 30.
The company, which posted a consolidated profit after tax of Rs 134.3 crore in the first quarter of the last fiscal, said its diagnostics business has been renamed as Agilus Diagnostics Ltd, and the boards of the two firms have granted approval for the latter to initiate an initial public offer (IPO) process.
Its consolidated revenues in the first quarter stood at Rs 1,657 crore against Rs 1,488 crore in the year-ago period, a growth of 11.4 per cent.
"We have witnessed a steady start in Q1 FY24 for both the hospitals and diagnostics business. Our hospital business revenues grew 13.6 per cent to Rs 1,354 crore while operating EBITDA was at Rs 206.4 crore, reflecting a margin of 15.2 per cent versus 16.2 per cent in Q1 FY23.
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