Q3 2024 Fortis Healthcare Ltd Earnings Call Transcript
Key Points
- Consolidated revenues grew by 8% year-on-year to INR 1,680 crores.
- Hospital operating EBITDA increased to 88% in Q3 FY '24 from 76% in Q3 FY '23.
- ARPOB (Average Revenue Per Occupied Bed) grew by 10.6% year-on-year.
- The hospital business operating EBITDA grew 19% to INR 251 crores, reflecting a margin of 18%.
- Expansion strategy includes adding 2,200 beds over the next 4 years, with significant brownfield expansions.
- Consolidated operating EBITDA margin decreased to 16.9% from 17.7% in the previous year.
- Reported PAT (Profit After Tax) declined to INR 134 crores from INR 142 crores year-on-year.
- Occupancy rates dropped to 64% in Q3 FY '24 from 66% in the previous year.
- International patient revenue remained flat due to geopolitical issues in the Middle East.
- Net debt increased to INR 518 crores from INR 471 crores year-on-year.
Ladies and gentlemen, good day, and welcome to the Q3 FY '24 and 9 months ended December 31, 2023, post results conference call of Fortis Healthcare Limited. (Operator Instructions). Please note that this conference is being recorded. I now hand the conference over to Mr. Anurag Kalra, Senior Vice President, Investor Relations at Fortis Healthcare Limited. Thank you, and over to you, Mr. Kalra.
Thank you very much. A very good morning and good afternoon, ladies and gentlemen, and thank you for joining us on our quarter 3 FY '24 earnings call. The call is being chaired by Dr. Ashutosh Raghuvanshi, our Managing Director and CEO. With him, we have Mr. Vivek Goyal, our Chief Financial Officer. And I also have my colleagues from Investor Relations and M&A, Amit Mahendru and Avinash Tripathi.
Before we start the call, I would just like to state that, as you're all aware, we are a listed company and our material subsidiary, Agilus Diagnostics has filed a DRHP for the proposed IPO
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