Fortis Healthcare matter: Former official settles case with Sebi
Vishal Bali, a former official at Fortis Hospitals, settled with Sebi a case pertaining to allegedly aiding in the diversion of public shareholders' funds for the benefit of the promoters of Fortis
FORTIS HEALTHCARE LTD. - 532843 - Disclosure of Voting results of Postal Ballot (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
Fortis Healthcare Ltd has informed BSE regarding the details of Voting results of Postal Ballot, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here FORTIS HEALTHCARE LTD. - 532843 - Proceedings And Voting Result Under SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
With reference to the Postal Ballot Notice dated January 7, 2022, following resolution have been approved with requisite majority through e-voting: - a) Approval for entering into a Material Contract by Fortis Malar Hospitals Limited, a step-down subsidiary of the Company (Special Resolution). Please find enclosed Scrutinizer's Report along with result of postal ballot in prescribed format. This is for your information and records please.
Molnupiravir appears to work against Omicron as other variants: Study
The study was jointly conducted by a team of doctors at Fortis C-DOC, G.D Hospital and Diabetes Institute, Jawaharlal Nehru Medical College and Hospital, and the Diabetes Foundation Q3FY22 Quarterly Result Announced for Fortis Healthcare Ltd.
Fortis Healthcare declares Q3FY22 result: Consolidated Revenues for Q3FY22 at INR 1,467 Crs, up 25% EBITDA at INR 294 Crs versus INR 201 Crs, up 46%. EBITDA margins at 20%, up 300bps PAT at INR 142 Crs versus INR 54 Crs in Q3FY21, up 163% Q3FY22 hospital business revenues grew 23.3% YoY to INR 1,118.2 Crs versus INR 906.9 Crs in Q3FY21. Revenues in Q2FY22 were at INR 1,098.5 Crs. Non-covid revenues contributed 98% to the overall hospital revenues in the quarter, similar to trailing quarter and compared to 81% in Q3 FY21. The hospital business EBITDA grew 46% to INR 190.2 Crs versus INR 130.7 Crs in Q3FY21. EBITDA in Q2FY22 stood at 189.1 Crs. This was due to higher surgical volumes witnessed in select key medical specialties. EBITDA Margins stood at 17.0% in Q3FY22 versus 14.4% in Q3 FY21 and 17.2% in Q2 FY22 Q3 FY22 diagnostics business gross revenues grew 26.9% YoY to INR 388.5 Crs versus INR 306.2 Crs in Q3FY21. Revenues in Q2FY22 were at INR 402.7 Crs. Non-covid revenues grew 33.8% versus Q3FY21. Covid contribution to overall diagnostics revenues was at 19.1% versus 24.1% in Q3FY21 and 17.7% in Q2FY22. The diagnostics business EBITDA was at INR 103.4 Crs versus INR 73 Crs in Q3 FY21. This was similar to the EBITDA in Q2FY22. Margins improved to 26.6% in Q3 FY22 versus 23.9% in Q3 FY21 and 25.7% in Q2 FY22 Net debt to EBITDA was at 0.53x for Q3FY22 versus 1.3x for Q3FY21. This was despite the acquisition of the balance 50% stake in the DDRC – SRL JV in April 2021, which was funded entirely through internal accruals. Net debt as of 31 December 2021 was at INR 621 Crs, lower by INR 248 Crs compared to Q2FY22 (INR 869 Crs) and reflecting a net debt to equity of 0.09x. For the period ended nine months December 2021 (YTD FY22), hospital business revenues grew 50.5% to reach INR 3,223.3 Crs. EBITDA stood at INR 528.9 Crs versus INR 123.9 Crs in Q3FY21. Margins stood at 16.4% versus 5.8% in the corresponding previous period. For the period ended nine months December 2021 (YTD FY22), diagnostic business gross revenues grew 69.1% to reach INR 1,232.6 Crs. EBITDA stood at INR 341.6 Crs versus INR 133 Crs in Q3FY21. Margins stood at 27.7% versus 18.2% in the corresponding previous period. Commenting on the results for the quarter, Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “Q3 continues to build on the business momentum we witnessed in Q2. Despite it being a festive season in some of our larger geographies, both the hospital and the diagnostics businesses have performed well. Hospital occupancy was at 65.4% in the quarter versus approx. 64% in both the trailing and corresponding quarters. Higher complex procedure surgical volumes resulted in the ARPOB increasing 18% versus Q3 FY21. Further augmenting our medical infrastructure along with strengthening our clinical talent base continue to be high priority areas. Led by a higher B2C revenue component, the diagnostics business recorded robust margins; higher than both the trailing and corresponding quarters. The third wave of covid has had an impact primarily in the month of January though we are now seeing a gradual recovery in business which we expect should accelerate going forward. This would hopefully enable us to end FY22 on a sound note.” Result PDF
Fortis Healthcare's Q3 profit after tax sees over twofold jump to Rs 142 cr
Fortis Healthcare on Friday said its consolidated profit after tax (PAT) rose by over twofold to Rs 142 crore in the third quarter ended December 31, 2021. The company had reported a PAT of Rs 54 crore in the corresponding period last fiscal. Its revenue during October-December 2021 rose to Rs 1,466.7 crore as compared with Rs 1,177 crore in the year-ago period, Fortis Healthcare said in a statement. "Our efforts to drive operations both in terms of revenue accretion and cost optimisation initiatives have yielded positive results as witnessed in the Q3 performance and over the past few quarters," Ravi Rajagopal, chairman (board of directors) of Fortis Healthcare, said. Strategic plans for further strengthening clinical specialities, medical programmes and infrastructure are actively being pursued, he added. "Investments in brownfield (existing) bed expansion should see the company add close to 250-300 beds each year for the next few years, taking our operational bed capacity to ov FORTIS HEALTHCARE LTD. - 532843 - Outcome Of The Board Meeting And Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today i.e. February 11, 2022, inter-alia, considered and approved standalone and consolidated un-audited financial results of the Company for the period ended on December 31, 2021. Accordingly, please find enclosed standalone and consolidated un-audited financial results along with limited review report given by the Statutory Auditor of the Company for period ended on December 31, 2021. Further, a copy of the press release and investor presentation being issued in this regard is also enclosed. The meeting commenced at 1200 Hours IST and concluded at 1910 Hours IST. This is for your information and records please. FORTIS HEALTHCARE LTD. - 532843 - Board Meeting Outcome for Outcome Of The Board Meeting And Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today i.e. February 11, 2022, inter-alia, considered and approved standalone and consolidated un-audited financial results of the Company for the period ended on December 31, 2021. Accordingly, please find enclosed standalone and consolidated un-audited financial results along with limited review report given by the Statutory Auditor of the Company for period ended on December 31, 2021. Further, a copy of the press release and investor presentation being issued in this regard is also enclosed. The meeting commenced at 1200 Hours IST and concluded at 1910 Hours IST. This is for your information and records please. FORTIS HEALTHCARE LTD. - 532843 - Board Meeting Intimation for Notice Of Board Meeting Under Regulation 29 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
FORTIS HEALTHCARE LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/02/2022 ,inter alia, to consider and approve Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that a meeting of the Board of Directors of the Company will be held on Friday, February 11, 2022 to, inter-alia, consider and approve un-audited financial results for the quarter and period ended December 31, 2021. Further, in continuation to our letter ref. FHL/SEC/2021-22 dated December 30, 2021 captioned 'Closure of Trading Window', it is hereby informed that the trading window of the Company for dealing in securities of the Company will remain closed till February 13, 2022. This is for your information and record please. FORTIS HEALTHCARE LTD. - 532843 - Intimation Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
In continuation to intimation made by the Company on January 13, 2022, this is to inform you that the Company has completed dispatch of postal ballot notice to its members on January 17, 2022 for seeking approval of the members by way of Special Resolution on the proposal detailed in Company's earlier intimation. Further, copies of newspaper advertisements published on January 18, 2022 in the columns of English daily 'Financial Express', all editions and Punjabi daily 'Rozana Spokesman', Mohali edition, inter-alia, intimating completion of the electronic transmission of Postal Ballot Notice along with the Postal Ballot Form to the Members, are enclosed for kind reference. This is for your kind information and records.