For the June quarter, Aster DM Healthcare reported net income of Rs 5 Cr.
Due to certain one-time costs, the top corporate hospital chain Aster DM Healthcare, which derives the majority of its revenues from operations in the Middle East, declared a net income of Rs 5 crore for the June quarter.
Azad Moopen, the founding chairman and managing director of Aster Healthcare, blamed spending for new facilities and one-time extraordinary items for the company’s poor profitability.
According to a statement from the firm, sales increased by 21% year over year to Rs 3,215 crore, from which it generated an after-tax profit of Rs 84 core.
Along with an increase in realizations, the number of beds at both new and existing hospitals had a significant impact on Q1 performance.
According to Moopen, the GCC and India both had great growth, and several cost-cutting measures made it possible for pre-tax profit to increase even more. ‘
The India businesses kept expanding more quickly, he added, with sales rising by a significant 29% to Rs 838 crore and pre-tax income rising by 47% to Rs 123 crore.
The firm is expanding on an asset-light approach that has the potential to provide greater returns on invested capital over time, even though the project pipeline is moving along very quickly.
As a result, he said that the business has partnered with PMF Hospital in Kollam, Kerala, to add 530 beds using this approach in less than two years.
Alisha Moopen, the chain’s deputy managing director, said that the company’s Q1 performance in the GCC was outstanding, with sales increasing 18% to Rs 2,377 crore and pre-tax income increasing by 27% to Rs 265 crore. She ascribed this growth to strategic initiatives and asset optimization.
Aster operates 33 hospitals, 127 clinics, 527 pharmacies, 229 laboratories, and patient experience centers encompassing primary, secondary, tertiary, and quaternary healthcare in six Gulf nations and India.
Nearly 4,000 physicians and over 9,200 nurses are among the approximately 31,220 employees.
