Bengaluru (Karnataka) [India], May 26 (ANI/NewsVoir): 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 per cent Y-o-Y to Rs 2,728 Crs. compared to Rs 2,391 Crs.
EBITDA (excluding other income) increased by 44 per cent Y-o-Y to Rs 463 Crs. compared to Rs 321 Crs.
PAT (Pre Non-Controlling Interest) increased to Rs 246 Crs., up 110 per cent compared to Rs 117 Crs. in same period, previous financial year.
Key Highlights of The Year (FY22)
Revenue from operations increased by 19 per cent Y-o-Y to Rs 10,253 Crs. compared to Rs 8,608 Crs.
EBITDA (excluding other income) increased by 40 per cent 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 per cent 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, 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."
Aster DM Healthcare Limited is one of the largest private healthcare service providers operating in GCC and in India. With an inherent emphasis on clinical excellence, we are one of the few entities in the world with a strong presence across primary, secondary, tertiary, and quaternary healthcare through our 27 hospitals, 120 clinics, 371* pharmacies, 14 labs and 100 patient experience centers in seven countries, including India, as at 31st March 2022. We have over 25,800 plus dedicated staff including 3,279 doctors and 7,473 nurses across the geographies that we are present in, delivering a simple yet strong promise to our different stakeholders: "We'll treat you well". We reach out to all economic segments in the GCC states through our differentiated healthcare services across the "Aster", "Medcare" and "Access" brands.
For more information about us, please visit www.asterdmhealthcare.com.
* Including 131 Pharmacies in India operated by Alfaone Retail Pharmacies Private Limited under brand license from Aster.
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements.
Aster DM Healthcare will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)