In FY24, Aster DM’s India business reported 24% year-on-year revenue growth, reaching Rs3,699 crore
Kochi: Healthcare entity Aster DM Healthcare posted a consolidated net loss of Rs2.17 crore in the January-March (Q4) quarter of 2023-24 fiscal.
The Bengaluru- based company slipped in to the red due to net deferred tax liability of Rs52.4 crore. In the same quarter the previous year, the firm reported a net profit of Rs182.59 crore.
The company’s revenue grew 22 per cent year-on-year (Y-o-Y) to Rs 978 crore in Q4 FY24 as against Rs804 crore in Q4 FY23.
Ebitda grew 24 per cent Y-o-Y to Rs 167 crore in Q4 FY24.
The firm announced the completion of the segregation of its India and Gulf Cooperation Council (GCC) businesses, having obtained all necessary regulatory approvals and receiving a cash consideration of $907.6 million.
Aster DM’s consolidated profit before tax increased to Rs72.32 crore in Q4 FY24 as compared to Rs56.67 crore in Q4 FY23.
The company said that India (continued operations) has a one-time impact “due to recognition of net deferred tax liability to the tune of Rs52.4 crore, arising out of the transition to the new tax regime under the Income Tax Act, following the segregation of the GCC business”.
GCC (discontinued operations) has an exceptional expense of Rs65.4 crore of costs relating to the segregation of the GCC business.
In FY24, Aster DM’s India business reported a 24 per cent year-on-year revenue growth, reaching Rs3,699 crore. This growth was driven by an increase of over 550 beds in capacity and a 10 per cent rise in ARPOB (average revenue per occupied bed).
“The operating Ebitda grew by 30 per cent Y-o-Y to Rs620 crore, supported by the better performance of our mature hospitals delivering a 22.4 per cent operating Ebitda margin in FY24,” said Azad Moopen, founder and chairman, Aster DM Healthcare.
Aster DM has appointed Alisha Moopen as the deputy managing director for a term of 5 years with effect from August 07, 2024.
Additionally, the company’s international business grew by 44 per cent year-on-year, reaching Rs188 crore in FY24 compared to Rs131 crore in FY23.
The new business segment, encompassing labs and pharmacies, expanded even more rapidly, with a 32 per cent year-on-year increase, achieving Rs286 crore in FY24.
Following segregation, Aster DM Healthcare (India) will now focus on geographic growth through greenfield and brownfield expansions over the next three years.
