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Saturday, July 7, 2018

Fortis releases audited Q4 and FY18 results, auditor raises red flags


The beleaguered healthcare provider, as per the audited financial statement, reported a loss of Rs 932 crore for the fourth quarter ended March impacted by continuing business challenges, impairments and provisions

Fortis Healthcare on Saturday released audited results for Q4 and FY18, largely in line with the unaudited financials it announced on June 27.

The company said the audited financial statements have been released on the completion of the additional review of certain internal processes which were being undertaken at the request of the board of directors.

The release of audited accounts will hasten the process of company's sale. The last date for submission of bids ended early this week.

"As expected, there has been no change in the figures reported in the audited financial statements compared to the unaudited results announced," the company said in a statement.

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Source: https://www.moneycontrol.com/news/business/fortis-releases-audited-q4-and-fy18-results-auditor-raises-red-flags-2683331.html
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