Fortis Healthcare Q2 Results: Net Profit Surges 82.4%, Beats Estimates
Fortis Healthcare Ltd. reported a net profit of 82.4% for its consolidated second quarter earnings, taken on a year-on-year basis. The company on Tuesday reported a net profit of Rs 322 crore compared to the year ago period’s Rs 176 crore. The profit exceeded the Bloomberg estimate of Rs 274 crore.
Revenue and EBITDA
The revenue saw a sharp 17.3% increase to Rs 2,331 crore from the previous year’s Rs 1,988 crore. The revenue surpassed the Bloomberg estimate of Rs 2,297 crore. The firm’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also spiked 27.8% to Rs 556 crore from the previous fiscal’s Rs 435 crore. The amount beat the Bloomberg estimate of Rs 528 crore.
Key Highlights of Q2 Results
- Revenue strongly up 17.3% to Rs 2,331 crore versus Rs 1,988 crore.
- EBITDA up 27.9% to Rs 556 crore versus Rs 435 crore.
- Margin significantly expanded to 23.9% versus 21.9%.
- Net Profit surged by an outstanding 82.4% to Rs 322 crore versus Rs 176 crore.
Stock Performance
Shares of Fortis Healthcare closed 0.89% lower at Rs 986.90 apiece on the NSE, compared to a 0.47% rise in the benchmark Nifty. The stock had risen 58.17% in the last 12 months and 37.1% on a year-to-date basis.
Out of 16 analysts tracking the company, 15 have a ‘buy’ rating on the stock, and one suggests ‘sell’, according to Bloomberg data. The average of 12-month analysts’ price target implies a potential upside of 2.7%.
Impact on Indian Stock Market
The Q2 results of Fortis Healthcare have a significant impact on the Indian stock market, particularly on the healthcare sector. To know more about the Indian stock market and its trends, visit our website.
Investment Opportunities
For investors looking to invest in the healthcare sector, Fortis Healthcare’s Q2 results are a positive sign. However, it’s essential to do your research and consider various factors before making any investment decisions. You can learn more about investing in stocks and the benefits of long-term investment.
Conclusion
In conclusion, Fortis Healthcare’s Q2 results have exceeded expectations, with a significant surge in net profit and revenue. The company’s performance has a positive impact on the Indian stock market, and investors may consider it as a potential investment opportunity. To stay updated with the latest news and trends in the Indian stock market, visit our website and follow our social media channels.