Chennai, Friday, July 23, 2010: Fortis Malar Hospitals, part of the Fortis Healthcare Network on Wednesday reported a dip in their standalone net profit of Rs 63.39 lakh for the quarter ended June 30, 2010.

The city-headquartered company reported a standalone net profit of Rs 85.80 lakh in the same period last year, Fortis Malar Hospitals said in a statement here.

For the year ended March 31,2010 the company reported a net profit of Rs 3.49 crore in the same period of last year.

Net income for the quarter ended June 30 stood at Rs 18.82 crore against Rs 14.19 crore in the same period last year.

EBITDA for the quarter ended June 30 stood at Rs 2.17 crore compared to Rs 2.14 crore in the same period last year,it said

"The company has grown over the last two years in a significant manner and similar growth trends should continue for the foreseeable future. This growth has been fuelled by investments in new medical programs, renovated infrastructure and a significant improvement in patient care services", Fortis Malar Hospitals Chairman Bhavdeep Singh said.

"We are confident that the company is well poised for continuing this exciting growth trends and shall form a significant part in Fortis Network growth and healthcare delivery plans in South India", he added.

Ref: Economic Times