Fortis Healthcare Ltd. (Fortis) announced its unaudited consolidated financial results for the quarter and half year ended September 30, 2024.

The company reported Q2 FY25 consolidated revenues at Rs. 1,988.4 crore, up 12.3% versus Q2FY24. The operating margins for the quarter were 21.9%, versus 18.6% in the corresponding previous period. Fortis posted net profit of Rs. 193 crore in Q2 FY25 as compared to Rs. 184 crore in Q2 FY24.

Q2 FY25 hospital business revenues grew 13.9% to Rs. 1,654.7 crore as compared to Rs. 1,452.6 crore in Q2FY24. Operating margins stood at 21.4% for the period versus 18.4% in the corresponding previous period. Q2FY25 diagnostic business gross revenues were at Rs. 3,725 crore versus Rs. 360.3 crore in Q2FY24.

Commenting on the results for the quarter, Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare stated, “We have continued our positive momentum in Q2 with the hospital business contributing approximately 82% to our consolidated EBITDA. We are making good progress on our plans to add nearly 700 beds this fiscal year across key facilities, including Faridabad, Anandpur, Shalimar Bagh, and Noida. Commensurate with our expansion plans, our 350-bed Manesar facility which we acquired in FY24 was commissioned recently. Leveraging our robust balance sheet, we would actively pursue further inorganic growth opportunities in our focus geographic clusters.”

He further added “Among our key specialties, Oncology and Neuro Sciences grew by a strong 19% and 17%, respectively, compared to the same period last year. As part of our ongoing efforts to enhance our medical infrastructure, FMRI introduced the first MR LINAC in North and Central India in September. On the diagnostics business we are moving ahead to consolidate our stake in Agilus by acquiring the 31.52% stake from the PE investors. The diagnostics business performance is witnessing a steady recovery with relatively improving topline growth and better EBITDA margins. However, the business is still impacted by rebranding expenses which we expect will taper off towards the end of the fiscal”