Buy Fortis Healthcare, target price Rs 595: JM Financial

JM Financial has buy call on Fortis Healthcare with a target price of Rs 595. The current market price of Fortis Healthcare Ltd. is Rs 490.4.

Fortis Healthcare Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 37083.54 Crore) operating in Hospitals & Allied Services sector.

Fortis Healthcare Ltd. key Products/Revenue Segments include HealthCare Services, Lease Rentals, Other Operating Revenue and Pharmaceuticals for the year ending 31-Mar-2024.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 1795.68 Crore, up 6.47 % from last quarter Total Income of Rs 1686.49 Crore and up 8.40 % from last year same quarter Total Income of Rs 1656.49 Crore. Company reported net profit after tax of Rs 198.82 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.17 per cent stake in the company as of 31-Mar-2024, while FIIs owned 23.24 per cent, DIIs 29.95 per cent.