Fortis Healthcare on Thursday reported net loss of R221 crore for the first quarter ended June 31 primarily due to a one-time forex loss relating to the divestment of Dental Corporation, Australia. In May, the company sold its 64% stake in Dental Corporation Australia to Bupa Australia Health for around R1,452 crore. Net sales grew 8% at Rs 1,517 crore for the April-June period. The healthcare delivery firm said that excluding the Dental Copr deal, net loss stood at R124 crore compared toR72 crore for the corresponding quarter last year. This was due to a forex impact of R18 crore and finance cost of R12 crore towards early loan settlement. Net debt of the company has come down to R3,283 crore in the June quarter.
Higher expenses downs Deepak Fert Q1 net by 6%
Deepak Fertilisers and Petrochemicals Corporation (DFPC) on Thursday posted a 6% fall in standalone net profit at R42.73 crore during the first quarter of this fiscal, due to higher expenses. It had clocked a net profit of R45.50 crore in the same quarter previous year, the company said. The profits fell slightly in April-June of 2013-14 fiscal as the company’s expenditure remained higher at R673.7 crore against R554.61 crore in the same period in 2012-13. However, its net income rose by 27% to R742.55 crore from R633.16 crore in the review period.
Sterlite Ind allowed to continue plant ops
Sterlite Industries on Thursday said that National Green Tribunal judgement has allowed it to continue the operations for its Tuticorin copper smelter plant. NGT in a judgement has upheld its interim order of May 31, the company said in a filing to the Bombay Stock Exchange. “We welcome this judgement and shall implement all recommendations laid down by the NGT appointed Expert Committee in a time bound manner. We will work closely with the regulatory authorities and the government and will continue to ensure the highest environment standards at our operations,” the release said.
Manipal group acquires hospital in Malaysia
Manipal Health Enterprises, the healthcare arm of the Manipal Education and Medical Group, has acquired a 70-bed hospital in Klang, Selangor District of Malaysia, for an undisclosed amount. “This acquisition by Manipal Hospitals also includes a new 200 bed tertiary care hospital which is presently under construction in a nearby location, which will be commissioned by last quarter of the financial year 2014-15,” Manipal Health
Enterprises (MHE) said in a statement. The hospital will