Fortis Healthcare back in black, reports Rs 135-crore profit in Q4

Fortis Healthcare showed signs of revival in the fourth quarter of FY19, with improved earnings before interest, tax, depreciation and amortisation (Ebitda). The Gurugram-headquartered health care major reported net profit (profit after tax and minority interests) of Rs 135.6 crore after accounting for exceptional items for the fourth quarter of the FY19. This was against a loss of Rs 932 crore in the same period last year. Exceptional items for the quarter primarily include allowance for doubtful advance and security deposit given to corporate entities, along with impairments taken in capital work in progress (Rs 47.4 crore), impairment of investment and allowance for doubtful loans to subsidiary company (Rs 55 lakh) and impairments of goodwill of Shalimar Bagh property, among others. The exceptional items for the quarter stood at Rs 66.31 crore while for the full year it was Rs 67.95 crore. The full year saw additional expenses on composite scheme of arrangement and amalgamation.