Aster DM Healthcare, today announced its financial results for the quarter ended June 30, 2022.
Key highlights of the quarter
- Operational Revenue increased by 12% Y-o-Y to Rs. 2,662 Crs. compared to Rs. 2,372 Crs.
- EBITDA (excluding other income) increased by 4 % Y-o-Y to Rs. 292 Crs. as compared to Rs. 281 Crs in Q1 FY 22. Excluding losses due to new hospitals, EBITDA stands at Rs. 312 Cr., a growth of 11% Y-o-Y.
- PAT (Pre- Non-Controlling Interest) increased by 34% to Rs. 80 Crs. compared to Rs. 60 Crs. in Q1 FY 22. Adjusting for losses due to new hospitals and one-time Other Income, PAT (Pre- Non-Controlling Interest) grew 49% to Rs. 89 Crs.
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% on a consolidated basis. Revenue in the GCC increased 10% over last year while strong growth momentum in India continued, with revenues growing 18% over Q1 FY 22. Adjusting for contribution from Covid testing last year, GCC revenues grew 18%. In India revenues grew 26% 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.
Aster Labs entered four other States: Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana. As of 30th June 2022, there were 2 reference labs, 15 satellite labs and 109 patient experience centers.
We expanded Aster Pharmacy branded retail stores in India, operated by Alfaone Retail Pharmacies Private Limited or ARPPL, to 176 pharmacies as of 30th June 2022. As part of its service proposition, Aster Pharmacy in India plans to launch its e-commerce operations, in the second half of FY 23.”
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.”