Fortis Healthcare slips 2% as Q2 net loss widens to Rs 166 crore

Shares of Fortis Healthcare slipped 2.5 percent intraday Tuesday after company's net loss widened in the quarter ended September 2018.

The company widened its net loss to Rs 166.6 crore in the second quarter ended September, impacted by impairment of goodwill and investments.

The company posted a net loss of Rs 45.9 crore in the same quarter of previous year.

Revenues from operations or total income declined 5 percent to Rs 1,139.9 crore in Q2FY19, compared to last year's Rs 1,197.2 crore. On sequential basis revenue rose 9.4 percent

The EBITDA margin dropped to 12.5 percent from 16.7 percent on YoY basis, while sequential basis EBITDA improved from 7.7 percent in Q1FY19.

Hospital business that constitute 80 percent of Fortis saw revenues dip 6.9 percent to Rs 899.5 crore on YoY basis, on QoQ basis rose 9.7 percent.

At 10:01 hrs Fortis Healthcare was quoting at Rs 139.90, down Rs 0.90, or 0.64 percent on the BSE.