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Prabhudas Lilladher Report
Fortis Healthcare Ltd. reported strong recovery in the quarter. Revenues improved 6% YoY (8% QoQ) to Rs 14.8 billion versus our estimates of Rs 14.5 billion.
Hospital business showed strong revenue growth of 15% QoQ to Rs 11.9 billion versus our estimates of Rs 11.3 billion. Diagnostic business saw revenue de-growth of 27% YoY (13% QoQ) to Rs 2.9 billion versus our estimate of Rs 3.2 billion. Fortis' hospital occupancy improved to 65% versus 59% QoQ.
Further average revenue per occupied bed saw a healthy growth of 21% YoY and 4% QoQ to Rs 53,700 on better case and payor mix. Net debt marginally increased by Rs 360 million QoQ to Rs 5.85 billion.
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