Fortis Healthcare Ltd., whose promoters have been facing multiple legal troubles, reported a net loss for the September and December quarters, after it sought an extension to approve results for the two reporting periods.
Fortis Healthcare posted a net loss of ₹236.1 million for the quarter ended September 30 compared with a profit of ₹382.4 million a year earlier, mainly on a one-time charge due to the closure of a hospital, it said in a stock exchange filing.
For the December quarter, it reported a net loss of ₹191 million, compared with a profit of ₹4.53 billion on a one-off gain by an associate company in the year-earlier period. The main shareholders of Fortis Healthcare, Malvinder Mohan Singh and Shivinder Mohan Singh, stepped down from the board last month saying it was in the interests of the company because of multiple legal troubles they were facing.
Stake reduction
On Wednesday, the promoters, including the Singh brothers reduced their stake by 2.23% to 0.77%.
They, along with affiliates, held a 34.43% stake in Fortis Healthcare at the end of December, a filing showed.
