Fortis Healthcare Limited (FHL), reported its consolidated financial results for financial year ended March 31, 2007. The consolidated total income for the period stood at Rs 525.40 crore, as against Rs 297.08 crore last year. The consolidated EBITDA grew significantly to Rs 61.52 crore, up 122 per cent over the last fiscal. The EBITDA margins saw an improvement during the fiscal at 11.71 per cent as against 9.3 per cent in the previous fiscal.
This was achieved through changes in product and room mix, increased capacity utilization and strengthening of high-end procedures, particularly cardiac and specialty procedures across hospitals. Higher share of operate and management (O&M) contracts fee have also improved margins.
FHL recorded a net loss of Rs 97.39 crore, which grew from Rs 52.92 crore in the previous fiscal. The net loss increase is primarily on account of incremental interest and goodwill amortization costs due to the full year impact of acquisition of Escorts Heart institute and Research Center Limited, as against six-month impact in the last financial year.
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