Fortis Q1 loss drops 71%

New Delhi, July 31 (UNI) The country's leading private healthcare company, Fortis Healthcare Limited (FHL), today said the first quarter ended June 30, 2007 recorded a lower cash loss by 71 per cent to Rs 0.92 crore as compared to Rs 3.13 crore in the corresponding previous quarter.

''The company has recorded a net loss of Rs 23.94 crore in Q1 FY08, prior to the write-off of deferred tax assets of Rs 12.78 crore from Escorts' Amritsar facility,'' said a statement.

The consolidated total income of FHL stood at Rs 134.64 crore for the quarter ended June 30, 2007, an increase of 10 per cent from Rs 122.03 crore in the corresponding previous quarter.

The consolidated EBITDA stood at Rs 16.12 crore, which saw a 25 per cent increase over the corresponding previous quarter.

''The operating margins have also improved to 12 per cent against 9.42 per cent in Q1 FY07-08 and 11.36 per cent for full fiscal 07,'' added the statement.

In first week of August, FHL would be inaugurating the Greenfield Fortis-Escorts hospital at Jaipur, which would have a start-up capacity of 163 in-patient beds and a total of 320 beds.

UNI