New Delhi/Bangalore, May 26, 2022: Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, today announced its financial results for the quarter and year ended March 31, 2022.
KEY HIGHLIGHTS OF THE QUARTER (Q4 FY22)
- Revenue from operations increased by 14% Y-o-Y to Rs. 2,728 Crs. compared to
Rs. 2,391 Crs.
- EBITDA (excluding other income) increased by 44% Y-o-Y to Rs. 463 Crs. compared to Rs. 321 Crs.
- PAT (Pre Non-Controlling Interest) increased to Rs. 246 Crs., up 110% compared to
Rs. 117 Crs. in same period, previous financial year.
KEY HIGHLIGHTS OF THE YEAR (FY22)
- Revenue from operations increased by 19% Y-o-Y to Rs. 10,253 Crs. compared to
Rs. 8,608 Crs.
- EBITDA (excluding other income) increased by 40% Y-o-Y to Rs. 1,483 Crs. compared to Rs. 1,063 Crs.
- PAT (Pre Non-Controlling Interest) increased to Rs. 601 Crs., up 238% compared to
Rs. 178 Crs. in the previous financial year
Commenting on the performance for Q4 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“We have witnessed good overall growth during the recently concluded quarter. With existing facilities ramping up, there has been significant improvement in the utilization of the facilities. Our India hospitals business is growing rapidly and we continue to add beds every quarter. We are actively exploring brownfield, low capex opportunities in various parts of India, which gives a much better ROI and improves our efficiencies. Our diagnostics vertical, Aster Labs has now entered four other States: Maharashtra, Tamil Nadu, Andhra Pradesh and Telangana. Aster Pharmacy in India is expanding its footprint at a rapid pace with 131 stores having been opened as at March 31, 2022.”
Commenting on Aster’s New Business Initiatives, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:
“We need to innovate and explore new business models involving shared risks and rewards that should help make our business more sustainable and resilient. We are in the process of working on few such models with insurance payors in GCC. While these initiatives are at a nascent stage, they would be critical for us to remain relevant in the coming years.
We are increasingly focusing on Medical Value Tourism as part of our GCC growth strategy. In the last quarter, we have been able to attract and treat multiple cases from close-by countries with gene therapy. We have been able to provide vaccination and cure to these children suffering from Spinal Muscular Atrophy (SMA).
Specific to UAE, we are actively investing into widening our range of offerings. We are setting up clinics focused on Wellness where we shall provide a wide range of services covering functional medicine, cosmetic, aesthetics and specialized IV drip therapy. There is also going to be increased focus on growing other cash business like dental and mental health.
We continue our pursuit to make Aster more future-ready and create a better experience of patient care. Recognizing that digital is really the way to further our mission of healthcare and wellness, we’ve been making some very strategic investments in bolstering our digital backbone.”