A leading healthcare company with a hospital and diagnostics chain is in focus after announcing an acquisition of a hospital and land in Jalandhar Punjab for 462 Crores.
Stock Price Movement
With a market capitalization of Rs. 45,535 Crore, the stock of Fortis Healthcare opened at Rs. 612.05 flat from yesterday’s close, and later stock made an intraday high of 619.20. Additionally, the 1 month’s return for the stock is -10 percent, and the past five year’s return is an impressive 285 percent.
Acquisition Details
Fortis Hospital has announced the acquisition of the entire business operations of Shrimann Superspecialty Hospital, situated at Jalandhar, and the underlying hospital land, and has also proposed the acquisition of the adjacent land, The transaction is expected to be completed by on or before March 31, 2025.
Company to buy the operations of Shrimaan Hospital including the building for Rs 423.40 Crores, the land parcel on which the hospital is situated for a consideration of Rs. 21.60 Crores, and the land parcel adjacent to the hospital for Rs 16.90 Crores. The overall consideration of the proposed transaction is Rs. 461.9 Crores.
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Financial Highlights
The company reported a 14.79 percent YoY increase in revenue from Rs. 1679.68 Crore in Q3FY24 to Rs. 1928.26 Crore in Q2FY25. On a QoQ basis, the company reported a decrease of 3.02 percent in revenue from Rs. 1988.39 Crore in the previous quarter.
Their Net profit saw an increase of 82.74 percent YoY from Rs. 134.23 Crore to Rs. 254.30 Crore for the same period. On a QoQ, basis their net profits also saw an increase of 37.70 percent from Rs. 193.08 Crore for the same period.
About the Company
Fortis Healthcare Limited – an IHH Healthcare Berhad Company – is a leading integrated healthcare services provider in India. It is one of the largest healthcare organizations in the country with 27 healthcare facilities, 4,700+ operational beds (including O&M facilities), and over 405 diagnostics centers (including JVs). Fortis is present in India, the United Arab Emirates (UAE), Nepal & Sri Lanka.
Written By Abhishek Das
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