Aster DM Healthcare reports robust Q2 growth, PAT up 46%

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The company’s consolidated EBITDA for Q2 FY24 also showed a significant rise of 21%, reaching Rs. 393 Crores. Profit after tax (PAT) experienced a substantial increase, surging by 46% to Rs. 67 Crores. This figure includes considerations for new hospitals and exceptional items, showcasing the company’s ability to effectively integrate and capitalize on its expansions.

Dr. Azad Moopen, Chairman of Aster DM Healthcare, credited these positive results to the strategic initiatives implemented across the company’s network.

Looking at the first half of FY24, Aster DM Healthcare’s financials are equally impressive. The operational revenue increased by 19% YoY to Rs. 6,532 Crores. EBITDA followed suit with a robust 28% growth, amounting to Rs. 791 Crores. PAT stood out with a remarkable 77% YoY increase to Rs. 162 Crores after adjusting for exclusions.

Alisha Moopen, Deputy Managing Director at Aster DM Healthcare, highlighted the success of their GCC operations which reported a 16% YoY revenue growth (Rs. 2,383 Crs). The GCC business’s EBITDA rose by 23% (Rs. 236 Crores), and EBITDA margins improved to 10%. These achievements were linked to strategic investments made in the previous fiscal year that are now yielding results.

Further showcasing its financial health, Aster DM Health reported that its net sales in September surged by an impressive 34.73% compared to September of the previous year, reaching Rs 509.21 crore. The quarterly net profit also grew by 3.69%, totaling Rs. 59.06 crore. EBITDA saw a healthy growth of 12.97%, standing at Rs. 106.54 crore, while earnings per share (EPS) increased from Rs.1.15 in September 2022 to Rs.1.19.

Investors have responded positively to Aster DM Healthcare’s performance with the company’s shares closing at ₹340.25 on BSE as of Monday, reflecting a six-month return of 33.35% and an annual return of 45.28%.

These results reflect Aster DM Healthcare’s continued focus on expanding its services and improving operational efficiencies across its network of healthcare facilities, which has translated into strong financial growth and increased shareholder value.

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