NEW DELHI: Fortis Healthcare on Saturday mentioned there has been no trade in its audited monetary effects in comparison to the unaudited numbers reported on June 27, 2018.
The corporate on June 27 had reported widening of consolidated net loss to Rs 914.32 crore for the March quarter, 2017-18, hit by means of proceeding industry challenges, provisions and impairments. It had posted a net loss of Rs 37.52 crore in the year-ago duration.
"The audited financial statements have been released on the completion of the additional review of certain internal processes which were being undertaken at the request of the Board of Directors", Fortis mentioned in a submitting to BSE.
As expected, there has been no trade in the figures reported in the audited monetary statements in comparison to the unaudited effects announced on June 27, it added.
"With the release of the audited financial statements, we have addressed an important objective that we had set for ourselves, as a reconstituted board comprising independent directors, in the backdrop of recent developments," Fortis Healthcare Board of Directors Chairman Ravi Rajagopal mentioned.
Our focus sooner or later can be on strengthening governance and transparency and restoring the well being of the industry, he added.
"We are also in the process of evaluating the bids received on July 3, 2018 and will present our recommendation to the shareholders in the coming days," he mentioned.
Consolidated source of revenue from operations stood at Rs 1,086.38 crore for the reported quarter. It was once Rs 1,123.43 crore for a similar duration a 12 months in the past, Fortis had mentioned.
For whole 2017-18, the company posted a net loss of Rs 934.42 crore. It reported a benefit of Rs 479.29 crore in 2016-17, it added.
Consolidated source of revenue from operations stood at Rs 4,560.81 crore during 2017-18 as in comparison to Rs 4,573.71 crore in the previous 12 months.
Fortis has won two recent binding bids on July 3, from Malaysia's IHH Healthcare and Manipal-TPG mix. Two suitors, KKR-backed Radiant Life Care and Munjal-Burman mix, have subsidized out from the race for the cash-strapped healthcare chain.
The corporate on June 27 had reported widening of consolidated net loss to Rs 914.32 crore for the March quarter, 2017-18, hit by means of proceeding industry challenges, provisions and impairments. It had posted a net loss of Rs 37.52 crore in the year-ago duration.
"The audited financial statements have been released on the completion of the additional review of certain internal processes which were being undertaken at the request of the Board of Directors", Fortis mentioned in a submitting to BSE.
As expected, there has been no trade in the figures reported in the audited monetary statements in comparison to the unaudited effects announced on June 27, it added.
"With the release of the audited financial statements, we have addressed an important objective that we had set for ourselves, as a reconstituted board comprising independent directors, in the backdrop of recent developments," Fortis Healthcare Board of Directors Chairman Ravi Rajagopal mentioned.
Our focus sooner or later can be on strengthening governance and transparency and restoring the well being of the industry, he added.
"We are also in the process of evaluating the bids received on July 3, 2018 and will present our recommendation to the shareholders in the coming days," he mentioned.
Consolidated source of revenue from operations stood at Rs 1,086.38 crore for the reported quarter. It was once Rs 1,123.43 crore for a similar duration a 12 months in the past, Fortis had mentioned.
For whole 2017-18, the company posted a net loss of Rs 934.42 crore. It reported a benefit of Rs 479.29 crore in 2016-17, it added.
Consolidated source of revenue from operations stood at Rs 4,560.81 crore during 2017-18 as in comparison to Rs 4,573.71 crore in the previous 12 months.
Fortis has won two recent binding bids on July 3, from Malaysia's IHH Healthcare and Manipal-TPG mix. Two suitors, KKR-backed Radiant Life Care and Munjal-Burman mix, have subsidized out from the race for the cash-strapped healthcare chain.
No change in audited results, evaluating bids: Fortis
![No change in audited results, evaluating bids: Fortis]()
Reviewed by Kailash
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July 07, 2018
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