Fortis net loss widens to R28.43 crore in Q2

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SummaryFortis Healthcare on Friday reported a widening of consolidated net loss to R28.43 crore for the quarter ended September 30 over the same period last fiscal.

Fortis Healthcare on Friday reported a widening of consolidated net loss to R28.43 crore for the quarter ended September 30 over the same period last fiscal. The company had posted a net loss of Rs 12.32 crore in the same period last fiscal, Fortis Healthcare said.

Consolidated total income of the company, however, rose to R1,493.45 crore for the quarter under consideration from R614.22 crore in the corresponding quarter last financial year.

The India business of the company recorded a revenue of R724 crore, a growth of 18% over the corresponding quarter previous fiscal, Fortis said.

Commenting on the results, Fortis Healthcare Group CEO Vishal Bali said: “I am particularly pleased with the sustained improvement in the operating performance of the company over the three sequential quarters.”

The hospital business revenue stood at R573 crore for the quarter while the company’s diagnostics business posted revenues of R150 crore, the company added.

International business contributed to 52% of the consolidated revenues and stood at R770 crore, Fortis said.


Neyveli Lignite Q2 net up 20%

State-owned Neyveli Lignite Corporation (NLC) on Friday reported a 20% rise in net profit to R334 crore for the quarter ended September 30 on the back of higher sales. Its net profit for the same period last year was R278 crore, the company said in a filing to BSE.

The total income from operations of NLC for the quarter was R1,349 crore during the quarter over R1,099 crore for the same period of last fiscal, it said. The company’s total expenses for the period were R964 crore which consisted of employee benefit expense of R470 crore.

“Employee benefits expense for the quarter includes R25.6 crore towards provision for pay revision and other benefits in respect of non-executives,” the statement said.

The company recently paid over R439 crore dividend to the government for 2011-12.

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