Aster DM Healthcare’s net profit for the first quarter of FY23 grew 34 per cent to ₹80 crore on a year-on-year (YoY) basis compared to ₹60 crore in the same quarter last year. Its net profit from Indian operations in Q1 FY23 were ₹19 crore against a loss of ₹1 crore for the quarter ended June 2021.
The global healthcare provider saw its consolidated revenue improve by 12 per cent to ₹2,662 crore in Q1 FY23 compared to ₹2,372 crore reported during the same period last year. Revenue from Indian operations increased 18 per cent YoY to ₹651 crore during the reporting quarter.
Adjusting for the contribution from Covid testing last year, revenue in the GCC region grew 18 per cent. In India, revenue grew 26 per cent when adjusting for Covid-related vaccinations.
“This clearly indicates a growth of business activity across both geographies,” said Azad Moopen, founder and Chairman and Managing Director, Aster DM Healthcare.
Aster’s EBITDA (excluding other income) increased by 4 per cent to ₹292 crore on a YoY basis as compared to ₹281 crore in Q1 FY 22.
“During Q1, Aster started the operations of 140-bed Mother Hospital at Areekode in Kerala, and kick-started its brownfield and low capex initiatives, which are expected to give a much better return on investment (ROI) and improve efficiencies,” the company said in a statement.
“We have submitted plans for the proposed integrated advanced healthcare facility at Trivandrum, , named Aster Capital Hospital. The hospital is planned to be a 550-bed facility, with the first phase having a capacity of 350 beds and expected to be operational by FY26,” Moopen added.
Aster Labs has recently expanded to four other States—Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana, and two reference labs, 15 satellite labs, and 109 patient experience centres were set up.
Aster DM Healthcare Limited has a network of 29 hospitals, 121 clinics, 421 pharmacies, 17 labs, and 109 patient experience centres in seven countries, including GCC region and India.