Aster full-year profit soars 140 pc to Rs335cr

24 hospitals, 114 clinics, 219 plus pharmacies in 9 countries

KOCHI: Aster DM Healthcare recorded net profit of Rs335 crore for the full-year ending March 31, 2019.

This represents a year-on-year increase of 140 per cent when compared with an adjusted profit after tax (PAT) of Rs139 crore posted for the full year ending March 31, 2018.

For the full year, the revenue from operations improved by 18 per cent to Rs7,963 crore compared with Rs6,721 crore.

Commenting on the performance during the period under review, Dr Azad Mopen (seen in the picture), chairman, Aster DM Healthcare, said, “All hospitals in the GCC and India are performing well and new hospitals in India are also doing better than expected.

For the quarter ending March 31, 2019, revenue from operations increased by 23 per cent to Rs2,201 crore. The company recorded net profit of Rs209 crore for the quarter ending March 31, 2019.

This represents a year-on-year increase when compared with an adjusted PAT of Rs145 crore registered in the same quarter of 2018 – an increase of 44 per cent.

The quarter under review has been the best quarter in the year under review with seasonality too playing to the favour of the company, the statement added.

“Sustained revenue growth has resulted from its existing operations that include 24 hospitals, 114 clinics and over 219 pharmacies in nine countries, including India,” the company statement said.

It added that the company’s strong growth is a reflection of its focus on quality healthcare, the strength of its diversified healthcare offerings and a strong thrust on enhancing efficiencies.

Dr Moopen said, “In line with our asset light focus, work at all our new hospital pipeline projects, both in GCC and India are progressing well. We are optimistic however that all these facilities will achieve swift break-even on the back of increasing occupancy and better utilisations.”

Aster DM Healthcare’s Hospital network consists of 12 hospitals in GCC states and 12 multi-specialty hospitals in India.

The hospitals in India are located in Kochi, Calicut, Kottakkal, Wayanad, Bengaluru, Kolhapur, Vijayawada, Guntur, Hyderabad & Ongole and are generally operated under the Aster, MIMS, Ramesh or Prime brands.

 

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