Fortis Q4 net up 8% to Rs 29.39 crore

Fortis Healthcare (India) on Friday reporteda 8.09 per cent increase in consolidated net profit to Rs 29.39 crore for thefourth quarter ended March 31, 2011 riding on robust sales from its expandednetwork of hospitals.

In the corresponding period previous fiscal the company'sconsolidated net profit was Rs 27.19 crore,it said.

Total income of the company for the quarter ended March 31,2011 stood at Rs 415.62 crore as against Rs 329.52 crore in the same periodprevious fiscal.

"At Fortis , we have once again had a milestone yearwith significant network expansion, a stupendous increase in clinicalcompetencies and seamless integration of erstwhile Wockhardt hospitals..,"Fortis Healthcare (India)MD Shivinder Mohan Singh said.

During the past year, the company had added eight hospitalsin the network, including three large greenfieldfacilities in the metro cities, he added.

At present the healthcare chain has a total of 56 hospitalsacross Indiawith a capacity of over 8,000 beds. "We have been trying to reach out to tier II, tier IIIand tier IV cities and that will continue," Singh said.

During the quarter under review, international patientrevenue grew by 61 per cent to Rs 31.7 crore compared to the correspondingquarter in the previous fiscal, reflecting a contribution of 6.6 per cent tothe total network revenues, the company said.

For the financial year ended March 31, 2011 the companyposted consolidated net profit of Rs 124.36 crore over Rs 69.48 crore for theprevious fiscal.

Total income of the company stood at Rs 1,482.82 crore forthe financial year ended March 31, 2011 as against Rs 937.94 crore for the yearended March 31, 2010.

"All the hospitals reported robust revenue growth. Theperformance at Fortis Escorts Jaipur, Fortis Malar Hospital Chennai, FortisHospital Noida, Fortis Hospital Mohali, Fortis Hospital Kalyan and FortisMulund Mumbai was exceptionally strong," the company said.