Fortis Healthcare Q2 Results: Net Profit Surges 82.4%, Beats Estimates
The firm's earnings before interest, taxes, depreciation and amortisation also spiked 27.8% to Rs 556 crore from the previous fiscal's Rs 435 crore.
Fortis Healthcare Ltd. reported a net profit of 82.4% for its consolidated second quarter earnings taken on a year-on-year ear basis.
The company on Tuesday reported a net profit of Rs 322 crore compared to the year ago period's Rs 176 crore. The profit exceeded the Bloomberg estimate of Rs 274 crore.
The revenue saw sharp 17.3% increase to Rs 2,331 crore from the previous year's Rs 1,988 crore. The revenue surpassed the Bloomberg estimate of Rs 2,297 crore.
The firm's earnings before interest, taxes, depreciation and amortisation also spiked 27.8% to Rs 556 crore from the previous fiscal's Rs 435 crore. The amount beat the Bloomberg estimate of Rs 528 crore.
Ebitda margin expanded notable by 23.9% from 21.9%, in line with the Bloomberg estimate of 23%.
Fortis Healthcare Q2 Highlights (Consolidated, Year-over-Year)
Revenue strongly up 17.3% to Rs 2,331 crore versus Rs 1,988 crore.
Ebitda up 27.9% to Rs 556 crore versus Rs 435 crore.
Margin significantly expanded to 23.9% versus 21.9%.
Net Profit surged by an outstanding 82.4% to Rs 322 crore versus Rs 176 crore.
Shares of Fortis Healthcare closed 0.89 % lower at Rs 986.90 apiece on the NSE, compared to a 0.47% rise in the benchmark Nifty. The stock had risen 58.17% in the last 12 months and 37.1% on a year-to-date basis.
Out of 16 analysts tracking the company, 15 have a 'buy' rating on the stock, and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 2.7%.
