INTERVIEW-UPDATE 1-Fortis says rights issue likely in end July

"We can only confirm the greenfield that we now are working on 600 beds in the next 12-18 months," Singh said, referring to the New Delhi hospital.

"Having said that, we think we have enough opportunities burning in the fire that we are comfortable with our (2012) target," he added.

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Fortis on Tuesday reported a fourth-quarter profit of 47.8 million rupees, compared with a loss of 98.9 million a year ago, helped by lower expenses such as interest costs, the officials said.

Income from operations rose 31 percent to 1.7 billion rupees. Sarin said all but one of Fortis' hospitals were profitable on an EBITDA basis.

Shares in the firm, which the market values at about 21.5 billion rupees, are up 44 percent so far in the year, compared with the broader index's .BSESN 50 percent rise.

By 3:14 p.m., they were trading about 5 percent down at 95.20 rupees in a weak Mumbai market. (Editing by Ramya Venugopal)