Fortis Healthcare posts Q4 net profit of Rs 151 cr

first_imgNew Delhi: Fortis Healthcare has reported a consolidated net profit of Rs 151.19 crore for the quarter ended March, as against a net loss of Rs 914.32 crore in the corresponding period of the previous fiscal. Consolidated revenue from operations increased to Rs 1,184.15 crore from Rs 1,086.38 crore in the same quarter a year ago, Fortis Healthcare said in a filing to BSE. The company’s net loss for the fourth quarter ended March 2018 includes a loss of Rs 833.50 crore on account of exceptional items, including allowance for inter-corporate deposits and interest thereon of Rs 445.03 crore, Fortis Healthcare said. Also Read – SC declines Oil Min request to stay sharing of documentsFor the fiscal year ended March 2019, the company posted a consolidated net loss of Rs 223.71 crore as against a net loss of Rs 934.42 crore for the previous fiscal. Revenue from operations for the full fiscal stood at Rs 4,469.36 crore. It was Rs 4,560.81 crore in the previous financial year. Fortis Healthcare Chairman Ravi Rajagopal said: “IHH’s preferential allotment in Fortis has re-capitalised the company’s balance sheet allowing it to refocus on its business operations and deliver what we do best i.e. patient care.” Also Read – World suffering ‘synchronized slowdown’, says new IMF chiefThe company has successfully stabilised operations over last six months and continues to witness an ongoing improvement in both the hospitals and diagnostics businesses, he added. Fortis Healthcare MD and CEO Ashutosh Raghuvanshi said: “Our operations are improving steadily, and we are on the path to recovery as the worst is behind us.” The company’s priority this year is to further strengthen its liquidity position, enabling it to invest for future growth to achieve shareholder returns, he added. Financial position of the company has significantly strengthened post IHH’s investment of Rs 4,000 crore and bringing hospital assets back on balance sheet, Fortis Healthcare said.last_img read more

City of Hamilton opens some spray pads early

Pier 4Waterdown MemorialWinonaFairgrounds ParkHeritage Green Sports ParkAll of the smaller neighbourhood pads will turn on the week of June 18. The City of Hamilton opened the Gage Park spray pad Thursday, after turning on two west-end pads the day before.Earlier this week, officials said city-run pads would begin opening June 11, despite soaring summer-like temperatures.The city said it didn’t have the funds to open them early.On Wednesday, the city announced that the Dundas Driving Park and Ancaster Village Green Park pads were open.According to the city, ward councillors covered the additional cost.Dundas Driving Park and Ancaster Village Green Park SPRAY PADS are now open, all others are set to open beginning the week of June 11! Thanks to the Ward Councillors who have covered the additional cost to open these two locations early. Details:— City of Hamilton (@cityofhamilton) May 30, 2018Thursday, the city announced the Gage Park pad was open.The list of spray pads is being updated here.The following large community-sized spray pads will open the week of June 11: read more

US consumer confidence in August highest in 11 months

by Martin Crutsinger, The Associated Press Posted Aug 30, 2016 8:20 am MDT Last Updated Aug 30, 2016 at 9:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email FILE – In this Wednesday, Dec. 2, 2015, file photo, a woman shops in an Aeropostale clothing store, in New York. On Tuesday, Aug. 30, 2016, the Conference Board releases its August index on U.S. consumer confidence. (AP Photo/Mark Lennihan, File) US consumer confidence in August highest in 11 months WASHINGTON – U.S. consumer confidence rose in August to its highest level in 11 months, suggesting economic growth could pick up in the second half of the year.The Conference Board said Tuesday that its consumer confidence index rose to 101.1, up from 96.7 in July. It was the highest level for confidence since the index hit 102.6 last September.The gain reflected consumers’ brighter views about current the economic situation and their expectations for the future.The percentage of those surveyed who saw business conditions as “good” increased from 27.3 per cent to 30 per cent. Those who viewed business conditions as “bad” remained virtually unchanged at 18.4 per cent.Consumers who regarded jobs as “plentiful” increased from 23 per cent to 26 per cent, although those who felt jobs were “hard to get” also rose slightly from 22.1 per cent to 23.4 per cent.Economists said that the climb in confidence reflected stronger job gains seen in recent months, as well as strength in the stock market and home prices, which boost consumers’ net worth.They expect the momentum in jobs to boost incomes and spur stronger consumer spending. That should help growth accelerate in the second half of this year, after four quarters of an anemic average growth rate of 1.2 per cent. Many analysts believe gross domestic product will top 3 per cent in the current quarter.“Growth will be supported by consumer confidence and job growth,” Jennifer Lee, senior economist at BMO Capital Markets, said in reaction to the consumer confidence report.The government will release the August jobs report on Friday. Many economists are looking for a gain of around 180,000 jobs. read more