Aster DM Healthcare Q2 FY21 revenue up 9 per cent

EBITDA up 11 per cent at Rs 271 crores, PAT at Rs 42 crores

Aster DM Healthcare’s financial results for the quarter ended September 30, 2020 show a 9 per cent Y-o-Y jump in operational revenue to Rs 2,268 crores compared to Rs. 2,087 crores.

EBITDA (excluding other income) increased by 11 per cent Y-o-Y to Rs 271 crores compared to Rs. 245 crores while PAT (pre-non-controlling interest) increased to Rs 42 crores Y-o-Y compared to Rs 7 crores.       PAT (post non-controlling interest) increased to Rs 33 crores Y-o-Y compared to Rs 3 crores.

Commenting on the performance for Q2 FY21 midst the recovery from the COVID-19 pandemic, Dr Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said, “Our businesses have come back to normal in the GCC, however India operations are still lagging behind even though the new cases in India have dropped significantly in the last month. I believe that the innate strength in our diversified business model has helped us maintain the business amidst the pandemic situation.”

Sharing some of the key learnings that have taken a permanent berth in the company’s strategy formulation process, he singled out sustainability of the revenue streams, unwavering focus on cost control and maintaining robust liquidity in the system and revealed that the cost optimisation projects which were initiated in the past two fiscals with intentions to drive in more cost efficiencies at the levels of manpower, materials and other direct expenses have helped us to become more efficient.

According to Dr Moopen, some new initiatives such as Aster Labs in India, telehealth, and Aster@Home have been seeing increase in business volume month by month. Aster Labs, has so far conducted more than 26,500 COVID tests including government and private hospital samples.

With the help of tele and digital communication, he said Aster DM Healthcare has managed to scale up their telehealth services to deliver and facilitate health and health related services. Another important area where Aster DM Healthcare is focusing to provide service and additional revenue streams is Aster@Home, which is the home care division, which is already very active in Kerala and Bangalore.