Fortis Healthcare Q4 Stand-Alone Profit Up More Than 5-Fold

5/29/2012 1:04 AM ET

Fortis Healthcare (India) Ltd. reported more than five-fold increase in its stand-alone net profit for the fourth-quarter, mainly driven by one-time gain under exceptional item.

The New Delhi-based company's stand-alone net profit for the fourth-quarter rose more than five-fold to Rs.184.98 crore, compared with Rs.33.82 crore for the quarter ended March 31 last year. Income from operations and other operating income increased by five percent to Rs.72.19 crore from the Rs.68.27 crore in the year-ago quarter.

Stand-alone results for the quarter under review included a one-time gain of Rs.184.62 crore, under exceptional items.

For the fiscal year, its stand-alone net profit increased by 42 percent to Rs.201.39 crore from the Rs.141.81 crore in 2011. Net income from operations and other operating income was Rs.281.01 crore, compared with Rs.260.56 crore last year, an increase of eight percent.

On a consolidated basis, the company posted fourth-quarter net profit, after minority interest and share of profit of associates, of Rs.41.54 crore, up by 41 percent from the Rs.29.39 crore in the corresponding quarter of the preceding year. Net income from operations and other operating income surged by 204 percent to Rs.1,279.10 crore from the Rs.421.18 crore in Q4FY11.

For the full year, its net profit, after minority interest and share of profit of associates, fell by 42 percent to Rs.72.22 crore from the Rs.124.33 crore in 2011. Net income from operations and other operating income stood at Rs.2,982.81 crore, compared with Rs.1,490.64 crore last year, an increase of 94 percent.

Fortis Group CEO Vishal Bali said, "We have witnessed a robust growth in our operating performance over the last four successive quarters in all our key businesses and geographies. Our India and International businesses have contributed equally to opportunity ahead of us. There are significant synergies in leveraging our medical programs to enhance patient care across our network."

Commenting on the consolidation, Bali added, "We remain resolute in pursuing our vision to be the leading integrated healthcare delivery company in the Asia Pacific region. While we continue dot expand our presence in India, the consolidation with Fortis Healthcare International has changed the footprint of the company and has given us an immense opportunity to expand and consolidate our key verticals."

At the BSE, Fortis Healthcare shares are currently trading at Rs.104.95, up 3.60 percent from the previous close.