Consolidated revenue from operations up 12 per cent YoY to Rs 2,662 crores
Aster DM Healthcare has announced its financial results for the quarter ended June 30, 2022.
Key highlights of the quarter
- Operational revenue increased by 12 per cent Y-o-Y to Rs 2,662 crores compared to 2,372 crores
- EBITDA (excluding other income) increased by 4 per cent Y-o-Y to Rs 292 crores as compared to Rs 281 crores in Q1 FY 22. Excluding losses due to new hospitals, EBITDA stands at Rs 312 crores, a growth of 11 per cent Y-o-Y.
- PAT (Pre- Non-Controlling Interest) increased by 34 per cent to Rs 80 crores compared to 60 crores in Q1 FY 22. Adjusting for losses due to new hospitals and one-time Other Income, PAT (Pre- Non-Controlling Interest) grew 49 per cent to Rs 89 crores.
Commenting on the performance for Q1 FY23, Dr Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare said, “We have started Q1 on a positive note with revenue growth of 12 per cent on a consolidated basis. Revenue in the GCC increased 10 per cent over last year while strong growth momentum in India continued, with revenues growing 18 per cent over Q1 FY 22. Adjusting for contribution from COVID testing last year, GCC revenues grew 18 per cent. In India revenues grew 26 per cent when adjusting for COVID related vaccinations. This clearly indicates growth of business activity across both geographies. During Q1, we started operations management of the 140-bed Aster Mother Hospital in Areekode in Kerala, kick starting our planned brown field, low capex initiatives which give a much better ROI and improve our efficiencies. We are looking at more such opportunities in various parts of India. We have submitted plans for the proposed integrated advanced healthcare facility at Trivandrum, capital of Kerala named as Aster Capital Hospital. The hospital is planned to be a 550-bed facility with the first phase having a capacity of 350 beds expected to be operational by FY 26.”
Commenting on Aster’s New Business Initiatives, Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said, We have two of our new hospitals ready for operation- Aster Sharjah, which has 101 beds the soft launch of which happened during Q1 and Aster Royal at Oman with 145 beds. We are excited to get them operational in Quarter 2 of this Year as we expand our footprint in GCC. Our new initiatives in digital expansion continue along the planned lines. We did successful launch of our digital app in GCC which shall be made available in India soon.”