Fortis Slips Into Red In Q1, Posts Loss Before Tax Of Rs 208.26 Crore
Fortis Healthcare’s (FHL’s) first quarter results reflected the effect of Covid-19 both on the hospitals and the diagnostics businesses.
The company on Friday reported a loss before tax of Rs 208.26 crore for the first quarter of the financial year, against a profit before tax of Rs 52.29 crore in the year-ago period. Total income during the quarter fell by 47 per cent to Rs 610 crore.
ALSO READ: Fortis to be renamed Parkway to distance itself from Singh brothers
The hospital business posted revenues of Rs 488.3 crore, against Rs 913 crore in Q1FY20. The gross revenues of diagnostics business stood at Rs 140 crore versus Rs 258 crore in the year-ago quarter.
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