Fortis Healthcare reports Q2 loss of Rs 142 crore

Hospital operator Fortis Healthcare Ltd, which is set to be acquired by Malaysia's IHH Healthca..

By admin , in Markets , at November 5, 2018

Hospital operator Fortis Healthcare Ltd, which is set to be acquired by Malaysia's IHH Healthcare Bhd, posted a quarterly loss due to impairment charges.

The company's net loss widened to 1.42 billion rupees ($19.43 million) in the second quarter ended September, from 236.1 million rupees a year earlier, according to a filing on Monday.

Fortis, which has operations in India, Dubai, Mauritius and Sri Lanka, agreed to be bought by IHH Healthcare after a prolonged takeover battle, which drew interest from five international and local suitors.

Income from operations fell 4.8 percent to 11.40 billion rupees. The company incurred a one-time loss of 960.7 million rupees for the quarter compared with a loss of 467.6 million rupees a year ago.

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