Q1FY19 revenue is up by 14 per cent and EBITDA is up by 188 per cent
Aster DM Healthcare, a private healthcare service providers in multiple GCC states recently announced its financial results for the quarter ended June 30, 2018.
The second largest healthcare services provider in India by market cap, Aster DM Healthcare recorded a net profit of INR 20 crore for the quarter ending June 30, 2018. This represents a year-on-year increase of 125 per cent when compared to loss of INR 80 crore registered in the same quarter of 2017.
Revenue (excluding finance and investment income) for Q1FY19 recorded an increase of 14 per cent reaching INR 1789 crore on sustained organic growth from its existing operations that includes 20 hospitals, 112 clinics and over 210 pharmacies in nine countries, including India.
Maintaining its strong financial performance in the quarter ended June 30, 2018, Aster DM Healthcare’s EBITDA grew 188 per cent y-o-y to Rs. 139 crore compared to INR 48 crore, on the back of performance. The company’s ability to report sustained profitability and achieve growth margins reflect the strength of its diversified healthcare offerings.
Financial Performance Highlights
Performance Review for Q1FY19 vs. Q1FY18
- Revenue (excluding finance and investment income) improves by 14 per cent to INR 1789 crore compared to INR 1565 crore
- EBITDA higher by 188 per cent y-o-y to Rs. 139 crore compared to INR 48 crore
- PAT (pre-NCI) increases to INR 20 crore compared to loss of INR 80 crore
- Diluted earnings per share up to INR 0.25 as compared to loss of INR 1.66
Commenting on the performance for Q1FY19, Dr Azad Moopen, Chairman, Aster DM Healthcare, said, “We are encouraged by our performance which is a reflection of the appreciation for quality healthcare. Given the seasonal nature of businesses across the GCC region wherein the peak summer months of April to September tend to be muted, we track yearly performance as against sequential. Seasonality variation during the summer, expatriates going on annual vacation has been a consistent feature for several years and we are confident of delivering a strong H2 with higher revenues and proportionately larger increase in profitability due to operating leverage.”
“The underlying profitability, returns profile and scalability of our GCC business; fast-growing India operations focused on large format hospitals in tier 1 cities pivoted around an asset light model and growing brand equity amongst doctors and patients all give us a unique sustainable platform of profitable growth. Our eyes are set on maintaining an optimal mix of growth and leverage. Margins will witness expansion led by improving maturity mix in the GCC hospitals and clinics, Saudi turnaround and ramp up in India hospitals. As a company, the focus remains on value creation and making a positive difference in the lives of patients that we serve everyday, added Moopen.