Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, announced its financial results for the quarter ended June 30, 2021.
KEY HIGHLIGHTS OF THE QUARTER
- Operational Revenue increased by 36% Y-o-Y to Rs. 2,372 Crs. compared to Rs. 1,747 Crs. · EBITDA (excluding other income) increased by 97% Y-o-Y to Rs. 281 Crs. compared to Rs. 143 Crs.
- PAT (Pre- Non-Controlling Interest) increased to Rs. 60 Crs. compared to a loss of Rs. 89 Crs. in FY 21 Q1
- PAT (Post Non-Controlling Interest) increased to Rs. 44 Crs. compared to a loss of Rs. 83 Crs. in same period, previous financial year
Commenting on the performance for Q1 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said: “We start the new Financial Year 2022 with a more positive sentiment and hope. The Pandemic gradually seems to be coming under control. While we do see some of the new variants and few more lockdowns effected in India and other parts of the world in Q1 FY 22, we today feel lot more confident and sincerely hope that the worst is behind us. The vaccination drives happening at record pace across the globe has brought down the mortality rate.”
In U.A.E, the infection rate has stabilized and majority of the population have now been vaccinated. In India, however, the second wave happened during Q1 which led to restrictions being placed in many parts of the country. Kerala, Maharashtra and Delhi NCR were worst affected.
The focus going forward as a strategy is to expand capacity in India. To the existing capacity beds of 3,757 beds in India, an addition of 411 beds is being planned in the next 18 months with expansion of 60 beds in Kolhapur to the existing facility, 276 beds being added in Bengaluru and 75 beds being added in Kottakkal. In GCC, 225 beds are being added in the current financial year. This shall take total capacity in GCC and India to 5,544 beds.
The Company continues to actively expand Aster Labs and their pharmacy distribution network in India, in line with the company’s strategy to have wider presence with an asset light model along with focus on digitization.
Commenting on digitization, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:
“On our Digital Pursuits, we continue to work on creating our Digital Assets which are foundational, efficient and can help us expand quickly with an asset light model. We are investing in creating an App – “One Aster” which will be our unified mode of engagement with our patient base for their health and wellness needs. This shall house Tele-consult, Epharmacy, Chronic Disease management and create various streams to support patient health and wellness. We shall be launching our first version of the Virtual care app in Q2 at UAE level and are actively working on e-pharmacy build up. This shall be followed by a launch in India later during the financial year.”