Aster DM Healthcare, an integrated healthcare service provider in India, in a press statement on Friday, revealed financial results for the quarter ending June 30, 2024.
The company achieved a record revenue of Rs 1,002 crores for Q1 FY25, marking a significant 20 per cent increase compared to Rs 838 crores in Q1 FY24. This performance reflects the highest revenue ever reported by Aster India, the press statement read.
Operating EBITDA also saw a notable rise, growing by 39 per cent year-over-year to Rs 177 crores in Q1 FY25, up from Rs 128 crores in the same quarter last year. The operating EBITDA margins improved to 17.7 per cent in Q1 FY25, compared to 15.3 per cent in Q1 FY24. The Profit Before Tax (PBT) surged by 125 per cent, reaching Rs 123 crore in Q1 FY25, compared to Rs 54 crore in Q1 FY24. Net profit, after non-controlling interests, increased by 80 per cent to Rs 74 crores, up from Rs 41 crores in the previous year.
Azad Moopen, Founder and Chairman of Aster DM Healthcare, expressed his satisfaction with the quarter’s performance, stating, “I am pleased to announce that this quarter represents a pivotal moment for Aster DM Healthcare. With the successful segregation of our GCC business, we are now a pure-play India entity, embarking on a new journey for FY25 and beyond. Our India business achieved a remarkable 20 per cent year-over-year growth, delivering a record revenue of Rs 1,002 crores, supported by an increase in bed capacity and growth in Average Revenue Per Occupied Bed (ARPOB). The Operating EBITDA grew by 39 per cent to Rs 177 crores, and net profits post non-controlling interests grew by 80 per cent to Rs 74 crores in Q1 FY25.”
Moopen further highlighted recent accolades, noting, “Aster DM Healthcare continues to receive prestigious national recognitions. We were recently awarded ‘Best Healthcare Brand of the Year-2024’ by The Economic Times. Additionally, Aster CMI Hospital became the first hospital in South India to receive NABH Digital Platinum Accreditation. We are on track to achieve over 6,500 beds by FY27, further solidifying our position as a leader in the healthcare sector.”
In terms of performance highlights, the Core Hospital and Clinics business delivered an Operating EBITDA margin of approximately 21 per cent in Q1 FY25. Matured hospitals, those operational for over six years, achieved an Operating EBITDA margin of 23.2 per cent. The Whitefield hospital in Bangalore reported a 65 per cent occupancy level and an ARPOB exceeding Rs 70,000 in Q1 FY25. The payor mix improved with the insurance business contributing 30 per cent, reflecting an increase of 200 basis points, though this was offset by a decrease in scheme business.
The Karnataka and Maharashtra cluster saw revenue growth of 38 per cent year-over-year, with operating EBITDA rising by 55 per cent. Aster Labs reported a 15 per cent increase in revenue for Q1 FY25, continuing to deliver a positive operating EBITDA margin, the press statement added.
