Fortis Healthcare - Strong Revenue, Margin Recovery In Q3: ICICI Securities 
A patient undergoes dialysis, aided by a Fresenius Medical Care AG machine, at a Fortis Healthcare India Ltd. Renkare dialysis clinic in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Fortis Healthcare - Strong Revenue, Margin Recovery In Q3: ICICI Securities 

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ICICI Securities Report

Fortis Healthcare Ltd. reported Q3 FY21 performance better than estimates driven by business recovery across hospitals and diagnostics and continued focus on cost optimization.

We expect the performance to continue to improve in coming quarters and estimate positive revenue from Q4 FY21 onwards.

Revenue grew 0.7% YoY to Rs 11.8 billion (our estimate Rs 11.3 billion) with hospitals declining 4.9% and SRL (diagnostics) growing 25.9%.

Ebitda margin improved 280/410 basis points YoY/QoQ driven by revenue recovery and cost optimisation.

Management has taken steps to reduce personnel and selling general and administrative costs and the benefits are visible from last two quarters.

Click on the attachment to read the full report:

ICICI Securities Fortis Q3FY21 Result Update.pdf

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