On Tuesday, 26 September shares of a healthcare company rose almost 2 percent after the company announced that they are going to acquire artistry properties. The stock has gained 30% in the last 1 year. 

At 11.50 am shares of Fortis healthcare Ltd were trading at Rs. 338.10 per share, up by almost 1.5 percent from previous close price of Rs. 332.20 per share. The company has a market capitalization of INR 253.93 billion. 

Company’s board of directors have approved the proposal of acquisition of artistry properties, a Kolkata based realty firm for Rs 32 crore. The acquisition will be done through a share purchase agreement of 99.99 percent. 

Having a walkthrough of financial reported, the company’s revenue has increased by 11.4 percent compared to previous quarter, from Rs. 1642.7 crore in Q4FY23 to Rs.1657.4 crore in Q1FY24 During the same time, the company’s net profit decreased from Rs. 136.6 crore to 124.6 crore. As of March 2023. The company’s net profit margin was reported at 10.05 percent. The company has return of capital employed (ROCE) of 12.5 percent and return on equity (ROE) of 9.44 percent as of march 2023. 

The shareholding pattern data, as per quarter ended june 2023, showcases the company’s promoter holding a 31.17 percent in the company, moreover Ace investor rekha jhunjhunwala owns 3,36,52,108 shares which is 4.46 percent stake in the company. 

Fortis healthcare Limited is a leading integrated healthcare service provider in India. It is one of the largest healthcare organisations in the country with 27 healthcare facilities, 4300 operational beds and 400 diagnostic centres (including JVs). 

Written by Vinit israni