Aster DM Healthcare Revenues Up By 18% YoY To ₹3,317 Cr In Q2FY24

Aster DM Healthcare, one of the leading integrated healthcare service providers in GCC and India, on Wedneday announced its financial results for the quarter ended September 30, 2023, the company announced through an exchange filing.

Key Highlights for the Quarter

Operational revenue surged by 18 percent year-over-year, reaching Rs. 3,317 Crores compared to Rs. 2,816 Crores in the same period last year.

EBITDA also experienced a notable 21 percent year-on-year increase, standing at Rs. 393 Crores versus Rs. 324 Crores in Q2 FY23.

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Additionally, excluding new hospitals and one-time exceptional items, the Profit After Tax (PAT) showed impressive growth, soaring by 46 percent to Rs. 67 Crores.

Key Highlights for the Period (H1 FY24)

Operational revenue saw a robust increase of 19 percent year-over-year, reaching Rs. 6,532 Crores as compared to Rs. 5,478 Crores in the corresponding period last year.

EBITDA also exhibited substantial growth, marking a 28 percent year-on-year rise, standing at Rs. 791 Crores in contrast to Rs. 620 Crores in H1 FY23.

Moreover, excluding new hospitals and one-time exceptional items, the Profit After Tax (PAT) demonstrated exceptional growth, surging by an impressive 77 percent year-over-year to Rs. 162 Crores compared to Rs. 91 Crores in H1 FY23.

Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said: “In Q2 FY24, our consolidated revenue witnessed an impressive 18% YoY growth, reaching Rs. 3,317 Crs, attributed to the successful ramp-up of new hospitals initiated in the last two financial years. Our consolidated EBITDA showed resilient growth, reaching Rs. 393 Crs, reflecting a 21% YoY increase."

Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said: “In Q2 FY24, the GCC business achieved a notable 16% YoY revenue growth, reaching Rs. 2,383 Crs., reflects the success of strategic investments made in the previous fiscal year. The GCC business's EBITDA surged by 23% YoY to Rs. 236 Crores with EBITDA margins standing at 10% this quarter, as compared to 9% in Q2 FY23."