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Monday, May 16, 2011

Lanka Hospitals records profits

By Keishara Perera

Lanka Hospitals Corporation PLC recorded a net profit of Rs. 65 million for the 3 months ended March 31, 2011. This was in comparison to a net profit of Rs. 36 million in the corresponding quarter of the previous year.

Earnings Per Share (EPS) which stood at Rs. 0.16 in 2010 increased to Rs. 0.29 during the quarter.
Revenue for the period increased to Rs. 890 million compared to Rs. 682 million during in 2010, while staff costs rose Rs. 167 million during the period as against Rs. 120 million for the 3 months ended March 31, 2010.

Fortis Healthcare, one of the leading hospitals chains in India, recently acquired a 29% stake in Lanka Hospitals PLC, for a sum of Rs.4 billion. Fortis now stands as the second largest shareholder of the hospital with 64,120,915 shares, with SLIC Life and General Funds taking first and third place respectively.

source - www.dailymirror.lk