Aster DM Healthcare saw net profits decline by 24 per cent to ₹171 crore during the fourth quarter of FY23, compared to ₹226 crore in the same quarter last year.

Net revenues were up by 19.5 per cent to ₹3,262.32 crore, compared to ₹2,727.79 crore in Q4FY22.

For the entire year, the healthcare operator generated ₹11,933 crore, a 16 per cent increase year-on-year (y-o-y). While revenues from GCC were up 14 per cent to ₹8,950 crore compared to ₹7,870 crore in FY22, revenues from India grew by 25 per cent y-o-y to ₹2,983 crore against ₹2,384 crore in FY22.

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“FY23 was a year of growth and investment for us,” said Alisha Moopen, Deputy Managing Director, Aster DM Healthcare. “It is unprecedented for our GCC business to have two new hospitals, 24 pharmacies, and six clinics in a year. This year, we also saw Covid Testing Revenue of FY22 actively being replaced by Core Healthcare Revenue, which grew by 26 per cent across hospitals, pharmacies, and clinics.”

PAT for FY23 dropped by 19 per cent to ₹425 crore from ₹526 crore in FY22, largely impacted by the launch of five new hospitals across the GCC and India, the company said.

Strong growth

According to Aster, its India business continues to grow well, with revenues for the quarter growing 32 per cent y-o-yto ₹804 crore and EBITDA increasing by 62 per cent y-o-y to ₹127 crore.

Azad Moopen, Founder, Chairman, and Managing Director, Aster DM Healthcare, noted, “This business is likely to continue to deliver strong growth in the coming years. Some of our hospitals have reached almost full capacity, and we are adding new beds in such areas.”

“We furthered our commitment to expansion in India by adding 126 pharmacies and 91 labs and collection centres,” the MD added.

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The hospital chain operates 32 hospitals across seven countries and has a bed capacity of 5,756 beds across its hospitals. Additionally, it has 127 clinics, 521 pharmacies (including 257 pharmacies in India operated by Alfaone Retail Pharmacies Private Limited under a brand license from Aster), and 205 labs and patient experience centres in seven countries, including India.