New Delhi: Fortis Healthcare on Thursday reported a consolidate net profit of Rs 25.26 crore for the fiscal first quarter that ended on June 30, 2016.
Fortis Healthcare had posted a net profit of Rs 97.40 crore for the corresponding period of the previous fiscal year, the company said in a filing to the BSE.
"The reported results for the quarter are not comparable with the corresponding previous period due to progressive divestments of the company's international businesses," Fortis Healthcare said in a statement.
Consolidated total income from operations of the company stood at Rs 1,121.16 crore during the quarter under review as against Rs 1,034.27 crore in the year-ago period.
Commenting on the results, Fortis Healthcare CEO Bhavdeep Singh said, "In the coming quarters, we will drive further substantive gains as we further accelerate our efforts across all focus areas."
The company's diagnostic business revenues were also up 7 per cent at Rs 192 crore, it said.
In a separate filing to the BSE, the company said its board has approved an "enabling fund raising option up to Rs 5,000 crore including but not limited to QIP, FCCB, convertible securities or any other method and to recommend the same to the shareholders for their approval at ensuing AGM".
The board at meeting held on Thursday also provided an in-principle approval to demerge the company's diagnostic business which includes operations of SRL Ltd, Fortis Healthcare said.
The board has formed a restructuring committee to detail the nuances of the demerger structure, including valuation, share entitlement ratio and other incidental matters and to present the same before it on August 19, 2016 for final approval, it added.
Shares in Fortis Healthcare, on Thursday, ended 2 per cent lower at Rs 186 apiece on the BSE, whose benchmark Sensex index finished up 0.06 per cent.
Fortis Healthcare had posted a net profit of Rs 97.40 crore for the corresponding period of the previous fiscal year, the company said in a filing to the BSE.
"The reported results for the quarter are not comparable with the corresponding previous period due to progressive divestments of the company's international businesses," Fortis Healthcare said in a statement.
Consolidated total income from operations of the company stood at Rs 1,121.16 crore during the quarter under review as against Rs 1,034.27 crore in the year-ago period.
Commenting on the results, Fortis Healthcare CEO Bhavdeep Singh said, "In the coming quarters, we will drive further substantive gains as we further accelerate our efforts across all focus areas."
The company's diagnostic business revenues were also up 7 per cent at Rs 192 crore, it said.
In a separate filing to the BSE, the company said its board has approved an "enabling fund raising option up to Rs 5,000 crore including but not limited to QIP, FCCB, convertible securities or any other method and to recommend the same to the shareholders for their approval at ensuing AGM".
The board at meeting held on Thursday also provided an in-principle approval to demerge the company's diagnostic business which includes operations of SRL Ltd, Fortis Healthcare said.
The board has formed a restructuring committee to detail the nuances of the demerger structure, including valuation, share entitlement ratio and other incidental matters and to present the same before it on August 19, 2016 for final approval, it added.
Shares in Fortis Healthcare, on Thursday, ended 2 per cent lower at Rs 186 apiece on the BSE, whose benchmark Sensex index finished up 0.06 per cent.
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