Q1 FY 2022, Fortis Healthcare’s combined net profit decreased by 69% to Rs 134 cr.

For the first quarter that concluded on June 30th, Fortis Healthcare’s consolidated net profit fell by 69% to Rs 134 crore.

The healthcare giant reported a net profit of Rs 431 crore for the April through June 2021–22 period, which included an exceptional gain of Rs 306 crore.

Revenues for the reviewed period were Rs 1,488 crore as opposed to Rs 1,410 crore for the comparable period a year ago, the company reported in a late-night regulatory filing on Friday.

According to Fortis Healthcare Chairman Ravi Rajagopal, “with COVID abating, our hospital business has showed a significant rise relative to the diagnostics business, which has witnessed a fall in volumes due to a higher COVID-led base in both Q1 and Q4 of FY22.”

According to him, the organisation is continuing to enhance the business by adding beds, growing its medical programmes, and hiring clinical personnel.

According to Rajagopal, “Our next stage of growth would be led by our brownfield expansion strategy, which would see around 1,500 beds come online in the next few years, mostly in important existing Fortis facilities like the likes of FMRI, Mohali, Shalimar Bagh, BG Road and Noida.”

The healthcare company should be able to further strengthen its longer-term commercial prospects as a result of this, along with concentrate on digital initiatives in both the medical and non-medical related elements, he noted.

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