Aster DM Healthcare December quarter profit rises 53% to Rs 213 crore

Aster DM Healthcare’s profit after tax (PAT) in December quarter, excluding losses from new hospital ventures and non-recurring costs, rose by 53 per cent annually to Rs 213 crores as against Rs 139 crore in the same period last year

Its operational revenue rose 16 per cent annually to Rs 3,711 crore compared to Rs 3,192 crore in the corresponding period last year. Operating EBITDA also demonstrated major growth, rising by 28 per cent to Rs 583 crore.

For the nine-month period ending December 31, 2023, Aster DM Healthcare’s operational revenue surged by 18 per cent YoY to Rs 10,243 crore, compared to Rs 8,671 crores in the corresponding period of last year. Operating EBITDA increased by 28 per cent to Rs. 1,375 crore from Rs 1,076 crore, while PAT, excluding losses from new hospitals and non-recurring costs, rose 45 per cent to Rs 335 crore, compared to Rs 231 crores in the previous year.

Azad Moopen, Founder, Chairman, and Managing Director of Aster DM Healthcare, expressed gratitude to the shareholders for their strong support towards the company's decision to segregate its GCC operations.

Moopen highlighted the commitment to enhancing and expanding operations in India, driven by the shareholders' resounding endorsement of the strategic vision.

Moopen further elaborated on the impressive performance of the India business in Q3 FY24, noting a substantial 23 per cent YoY revenue growth, reaching Rs. 949 crores. This growth was attributed to the expansion of over 750 beds within the past year. Additionally, diligent cost optimization initiatives and leveraging operational efficiencies led to a remarkable 37 per cent YoY increase in Operating EBITDA, elevating hospitals' Operating EBITDA margins to 19.8 per cent. Consequently, the Net Profit after taxes for the quarter more than doubled.

Aster DM Healthcare shares ended 1.13 per cent lower at Rs 436 in trade on Friday.