India’s Fortis Healthcare has reported a profit after tax (PAT) of Rs1.74bn ($20.72m) for the first quarter (Q1) of the fiscal year 2025 (FY 2025), a 40.4% year-over-year (YoY) increase from Rs1.24bn ($14.76m) in Q1 FY 2024.
The PAT for the previous quarter (Q4 FY 2024), which ended 31 March 2024, was Rs2.03bn.
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For the quarter ending 30 June 2024, the company’s consolidated revenues rose to Rs18.59bn in Q1 FY 2025, a 12.2% YoY rise from Rs16.57bn reported in Q1 FY 2024.
Fortis Healthcare’s operating earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs3.43bn in Q1 FY 2025, a 25.5% increase from the previous year’s Rs2.73bn in Q1 FY 2024.
Despite this, there was a 9.9% decrease from the Rs3.80bn reported in the preceding quarter, Q4 FY 2024.
The operating EBITDA margin improved from 16.5% to 18.4%, and was 21.3% for Q4 FY 2024.
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By GlobalDataFortis’ Hospital business revenue specifically saw a YoY growth of 14.4%, rising to Rs15.49bn in Q1 FY 2025 from Rs13.34bn in Q1 FY 2024.
Compared to the previous quarter’s (Q1 FY 2024) revenue of Rs14.90bn, this marks a 4.0% increase.
The operating EBITDA for the hospital business alone grew significantly by 39.0% year-over-year, from Rs2.06bn in Q1 FY 2024 to Rs2.87bn in Q1 FY 2025.
However, there was a 13.8% decrease from the Rs3.33bn reported in the previous quarter of this year.
The operating EBITDA margin for the hospital business improved from 15.2% in Q1 FY24 to 18.5% in Q1 FY 2025.
The hospital business saw a notable boost from its top six medical specialities, namely cardiac sciences, gastroenterology, neurosciences, oncology, orthopaedics, and renal sciences.
These key areas collectively experienced a revenue increase of 15.7% in Q1 FY 2025 compared to the same period last year.
Their contribution to the total hospital revenue has remained consistent at 63%.
Fortis Healthcare managing director and CEO Dr Ashutosh Raghuvanshi said: “We have witnessed a good start to the fiscal as reflected in our Q1 earnings.
“The hospital business continues to show an upward momentum with Operating EBITDA margins expanding 330bps at 18.5% versus Q1 FY 2024, a growth of 39%. This was primarily led by an increase in occupancy from 64% in Q1 FY 2024 to 67% in Q1 FY 2025 and a higher ARPOB.
“Most of our key facilities have performed well noticeably Mulund, Anandpur, BG Road and Shalimar Bagh. Amongst our focus specialities, neurosciences and oncology have grown a robust 23% and 22% respectively versus the corresponding previous period.“
In a separate development, Fortis Healthcare announced earlier this week that Ravi Rajagopal has resigned from his position as chairman, due to his increasing board responsibilities in the UK and other regions.
Rajagopal will also step down from his role on the company’s corporate social responsibility committee.
His resignation will take effect on 30 September 2024.
