Fortis Malar's Q3 Financial Results Mixed
Fortis Malar Hospitals, a leading healthcare services company, recently declared its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a growth of 2.20% compared to the previous quarter, which had seen a decline of 14.04%. The consolidated net profit also showed a positive growth of 38.91% compared to the previous quarter's growth of 58.08%.
The company's operating profit (PBDIT) excluding other income also showed a significant improvement of 84.62% compared to the previous quarter's decline of 171.23%. However, the interest expenses for the quarter showed a slight decline of 3.70% compared to the previous quarter's decline of 4.93%.
The operating profit margin (excluding other income) also showed an improvement from the previous quarter. This indicates that the company's operational efficiency has improved in the current quarter.
Fortis Malar's financial performance for the quarter has been rated as 'Sell' by MarketsMOJO. However, the company's overall score has improved from -9 to -4 in the last three months, indicating some positive developments.
One of the factors working in favor of Fortis Malar is its cash and cash equivalents, which have been the highest in the last six half-yearly periods at Rs 29.77 crore. This shows that the company's short-term liquidity is improving.
On the other hand, the net sales for the quarter have fallen by 13.2% compared to the average net sales of the previous four quarters. This indicates a negative trend in the company's sales in the near term. Additionally, the non-operating income for the quarter has been the highest in the last five quarters, which may not be sustainable in the long run.
Overall, Fortis Malar's financial performance for the quarter ended September 2023 has been mixed, with some positive and negative factors. Investors should carefully analyze the company's financials before making any investment decisions.
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