Business

Fortis Healthcare shows turnaround signs in Q1

By Dan Neff

Synopsis

Although there was a mild recovery in the March quarter of the past fiscal year, it was only in the June quarter that the company reported better than expected numbers. The performance was driven by recovery across hospitals and diagnostics, continued focus on cost optimization and incremental upside from Covid-19 tests.

ET Intelligence Group: The stock of Fortis Healthcare has generated a meagre 7% annual return over the past five years compared with 28% earned by its larger peer Apollo Hospitals. However, scenario may improve given the efforts of the new management of Fortis to turn around the business and overall uptick in the healthcare sector as the proportion of high margin, non-Covid revenue improves.

After a sluggish performance in FY18 and FY19 under

BY

ET Bureau

3 mins read, Last Updated:

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Dan Neff