Fortis Healhcare

Fortis Healthcare on Friday reported a flat December quarter net profit at Rs 142 crore. The healthcare provider had posted a net profit of Rs 142 crore in the October-December quarter of the last fiscal. Revenue from operations rose to Rs 1,560 crore in the third quarter as compared to Rs 1,467 crore in the year-ago period, Fortis Healthcare said in a regulatory filing. "Our hospital business is growing from strength to strength and today contributes to more than 75 per cent of our overall earnings (EBITDA). "It is also pertinent to highlight that the hospital performance has by and large offset the decline we have seen in the diagnostics business primarily as a result of the decline in Covid volumes," Fortis Healthcare Chairman Ravi Rajagopal noted. Revenues from key medical specialties are gaining traction, complimented by focus on continuing to onboard quality medical talent and investments in bed expansion in facilities such as Mulund and BG Road and in medical equipment such

IHH indicated last week that it was ready to go ahead with the stalled open offer if the capital markets regulator allowed it

After a bruising bidding war four years ago, Fortis has moved to pare its debt and expand modestly

Apollo Hospitals Enterprise, and Narayana Hrudayalaya advanced 3 per cent each in the intra-day trade

Q2FY23 hospital business revenues stood at Rs 1,297 crore versus Rs 1,098.5 crore in Q2FY22 and Rs 1,192.4 crore in Q1FY23

Will start rebranding Fortis as Parkway shortly: Fortis chairman Ravi Rajagopal

What is keeping analysts upbeat on hospital stocks?

Several hospital players are on an expansion spree, as things are getting better for them after the Covid lull. Will the aggressive expansion cycle help the sector achieve sustainable growth ahead?

Experts note that the transition of the sector to the asset-light model has significantly enabled it to use fewer funds for setting up hospitals, thus bringing significantly higher returns on equity

Taking legal advice on next steps to pursue open offer for 26% stake in Fortis

Malaysia's IHH Healthcare is in discussions with relevant authorities in India to determine the next step for its stalled open offer for an additional 26.1 per cent stake in Fortis Healthcare, according to a company statement. The Supreme Court had last week ordered a forensic audit of the share sale of Fortis Healthcare to IHH Healthcare executed in 2018, in a contempt case filed by Japanese firm Daiichi Sankyo Company Ltd against the former promoters of Fortis, Singh brothers -- Malvinder and Shivinder, and others. In a statement, IHH Healthcare said the "Supreme Court has not found nor indicated any wrongdoing by IHH in terms of our investment into Fortis in its final order." The company said the Supreme Court has given a "direction to the High Court to inter alia consider issuing appropriate process and appointing forensic auditor(s) to analyse the transactions entered between Fortis and RHT and other related transactions". It further said that the order by the apex court ...

Apart from a forensic audit in the Fortis-IHH deal, the Supreme Court on Thursday also announced a jail term of six months for Malvinder Singh and Shivinder Singh in the Daiichi-Fortis case.

Fortis Healthcare on Thursday said it is seeking legal advice to decide its future course of action after the Supreme Court ordered a forensic audit of its share sale to Malaysia's IHH Healthcare. Similarly, IHH Healthcare also said it is awaiting the written judgment from the apex court and seeking legal advice on the impact of the order on its acquisition of Fortis Healthcare. In a regulatory filing, Fortis Healthcare said the proceedings before the Supreme Court have "concluded with certain directions and the suo motu contempt has been disposed off. We are seeking legal advice to decide our future course of action." IHH Healthcare, in a separate statement, said it has been advised by its Indian counsel to wait for the written judgment before announcing the decision of the Supreme Court. It is in the process of obtaining the written judgment from the Supreme Court of India and "seeking legal advice on the impact thereof on the transaction". "Further announcements regarding the

Former Ranbaxy promoters Malvinder Singh and Shivinder Singh are accused of concealing information about wrongdoing at Ranbaxy during its sale of a majority stake to Daiichi Sanyo, in 2008

CLOSING BELL: ith this, the indices have yet again turned negative for calendar year 2022. During the day, the Sensex had tumbled over 1,100 points, and the Nifty50 had erased nearly 350 points

A CCI investigation showed that higher pricing was charged for renting rooms, medicines, tests, medical devices, and consumables. In some hospitals, the room rents exceeded charges of 4-star hotels

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The rupee closed at a record low of 80.86 to the dollar, down from 79.9750 in the previous session

On the clinical front, the company said it expects to continue to strengthen its existing specialities and build new medical programmes.

The Securities Appellate Tribunal (SAT) has directed businessman Malvinder Singh and Malav Holdings to deposit 50 per cent of the penalty amount imposed by markets regulator Sebi within six weeks

Fortis Healthcare Ltd on Wednesday reported a 40 per cent jump in consolidated net profit at Rs 87.03 crore in the fourth quarter ended March 31, 2022. The company had posted a consolidated net profit of Rs 62.36 crore in the same quarter of the previous fiscal, Fortis Healthcare said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,378.1 crore as against Rs 1,252,44 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 1,264.17 crore as compared to Rs 1,167.29 crore in the corresponding period a year ago. Fortis said it witnessed the impact of the COVID-19 pandemic in the first half of the quarter with occupancies witnessing a downturn. However, given the lesser severity of COVID and low hospitalisations, the business saw recovery towards the end of February and operations returned to normal in the month of March. While January saw an occupancy of 54 per cent, March witnessed a reb