Fortis Healthcare Q3 Results: Profit Surges 84%, Beats Estimates

Fortis Healthcare Ltd.'s net profit grew 84% in the third quarter of the financial year, beating analysts' estimates.

The company posted a consolidated bottom line of Rs 248 crore in the quarter ended Dec. 31, 2024, compared to Rs 135 crore in the same period last fiscal, according to an exchange filing on Friday. This compares to the consensus estimate of Rs 179 crore of analysts tracked by Bloomberg.

Fortis Q3 FY25 Highlights (Consolidated, YoY)

• Revenue up 15% to Rs 1,928 crore versus Rs 1,680 crore (Bloomberg estimate at Rs 1,884 crore).

• Ebitda up 32% to Rs 375 crore versus Rs 284 crore (Estimate at Rs 371 crore).

• Ebitda margin expands to 19.5% versus 16.9% (Estimate at 19.7%).

• Net profit up 84% to Rs 248 crore versus Rs 135 crore (Estimate at Rs 179 crore).

The hospital business experienced revenue growth this quarter, driven by a 9.9% increase in the average revenue per occupied bed and a 6.2% rise in occupied beds.

International patient revenue saw a growth of 17%, reaching Rs 132 crore in the quarter under review from Rs 113 crore in the same period last year, contributing 7.7% to the overall hospital business revenue. The volume of key surgical procedures, particularly in neurosciences and robotic surgeries, increased 23% and 77% year-on-year respectively.

Revenue from digital channels, including the website, mobile application and digital campaigns, grew 36% year-on-year, accounting for 29.9% of the total hospital revenue.

Shares of Fortis Healthcare closed 0.15% lower at Rs 650.15 apiece on the NSE, compared to a 0.18% fall in the benchmark Nifty 50. The stock has risen 43.71% in the last 12 months.

Out of the 15 analysts tracking the company, 14 maintain a 'buy' rating on the stock and one recommends 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 9.2%.