Earnings | Aster DM Healthcare Ltd (NSE: ASTERDM): Q3FY23 Results Out; Total Income rise 20% YoY

Aster DM Healthcare Ltd (NSE: ASTERDM) is a multinational healthcare company that operates hospitals, medical centers, diagnostic centers, laboratories, and pharmacies in six GCC countries and India. The company was founded in 1987 by Azad Moopen and is registered in Bangalore, India, with its corporate headquarters in Dubai, UAE. The company operates under the brands Aster, Medcare, and Access and works in a variety of economic sectors.

Aster DM Healthcare Ltd has announced its Q3FY23 results. The company’s operational revenue increased by 20% YoY to Rs 3,192 crore in Q3FY23 compared to Rs 2,650 crore in Q3FY22. The core business without covid testing and vaccination revenue has seen an increase of 30% in Q3FY23 compared to Q3FY22. The EBITDA (excluding other income) was at Rs 449 crore as compared to Rs 397 crore in Q3FY22, and the PAT (Pre-Non-Controlling Interest) was at Rs 159 crore compared to Rs 168 crore in Q3FY22.

In the 9MFY23 period, the operational revenue increased by 15% YoY to Rs 8,671 crore compared to Rs 7,525 crore in 9MFY22. The core business without covid testing and vaccination revenue has seen an increase of 24% in 9MFY23 compared to 9MFY22. The EBITDA (excluding other income) was at Rs 1,060 crore as compared to Rs 1,021 crore in 9MFY22. The PAT (Pre-Non-Controlling Interest) was at Rs 293 crore compared to Rs 355 crore in 9MFY22. Adjusting for losses due to new hospitals and one-time other income, PAT (Pre-Non-Controlling Interest) was at Rs 385 crore.

Commenting on the performance for Q3FY23, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said: “Aster India continues to have excellent growth and is slated to grow further in the coming years. Some of our hospitals have reached almost full capacity and we are adding new beds in such areas. We are also setting up new hospitals in the geographies where Aster is the leading brand. The work on the new 200-bed Aster Hospital Kasaragod has begun. We are also in the process of adding 100 beds in Aster Hospital Kannur and 100 beds in Aster Medcity, Kochi. The work on the Phase-II 275-bed Aster Whitfield hospital in Bengaluru is nearing completion and we shall soon be starting the construction of Phase-I 350-bed Aster Capital Hospital in Trivandrum.”