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Fortis Healthcare releases Q2, Q3 earnings, shares jump

Fortis Healthcare rallied over 3 per cent on Thursday after ..

Fortis Healthcare rallied over 3 per cent on Thursday after the company reported its financial earnings for September and December quarters of 2017-18.

For the latest quarter ended December, Fortis Healthcare posted a consolidated net loss of Rs 36.76 crore as against net profit of Rs 441.92 crore in the previous year.

PAT for Q3 FY17 included a one-time gain. This was the company's share in the profit of RHT.

Fortis Healthcare had run up a net loss of Rs 45.72 crore in Q2 FY18.

Fortis has also witnessed a significant change in its ownership and shareholding of the promoters. Their shareholding has declined to around 0.77 per cent, from 34.40 per cent as of December 31, 2017.

Malvinder Mohan Singh and Shivinder Mohan Singh have resigned from the board of the company pursuant to the decision of the High Court in the Daiichi Sankyo case.

As of the end of September and December 2017, the company has a net debt of Rs 1,655 crore and Rs 1,339 crore, respectively, representing a net debt to equity ratio of 0.27x and 0.22x. The company had net debt to equity ratio of 0.19x and 0.20x as of June-end and March-end 2017, respectively.

Auditor Deloitte, Haskins & Sells LLP said, “We have not been able to obtain sufficient appropriate evidence to form a conclusion on the Statement and hence, we do not express a conclusion on the Statement.”

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