Aster reports standalone profit of Rs60.61 for FY20; Q4 profit was just Rs20 lakh

Consolidated profit was at Rs314.66cr for FY20

KOCHI: Aster DM Healthcare reported standalone net profit of just Rs20 lakh for the quarter ending March 31, 2020 (Q4) compared with Rs74.12 crore for the corresponding quarter last year.

The standalone profit for the full year ending March 31, 2020 (FY20) was Rs60.61 crore compared with Rs48.52 crore the company reported for the previous year.

At the same time, the consolidated net profit for the quarter under review was Rs146.31 crore compared with Rs219.84 crore the company reported for the comparable quarter last year. The consolidated full year profit was to the tune of Rs314.66 crore against Rs367.31 crore for the previous year.

The company’s shares closed on Tuesday (June 23) at Rs124.40 on NSE. Aster had bought back 1.13 per cent of its shares from its shareholders during February 20, 2020 to March 5, 2020 at Rs210 apiece.

The standalone borrowings of the company increased from Rs105.22 crore to Rs140.21 crore during the year, representing, 33 per cent increase during the course of the year.

Aster Group’s operations in India still remain small compared with its overseas operations, dominated by the GCC, and this is quite apparent from the total revenue figures as well as the final earnings.

Aster DM Healthcare is one of the largest private healthcare service providers operating in Asia (GCC & India) and is present in seven countries – UAE, Saudi Arabia, Qatar, Oman, Bahrain, Jordan and India.

While the revenue from overseas operations constitutes about 81 per cent of the group’s top-line, Indian operations account for only the remaining 19 per cent.

The company had earlier this year talked about plans to issue bonds to reduce the debt, but further details on that were not heard, maybe the COVID 19 has forced the company to keep the plan on hold for the time being.

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