Business Wire India
Aster DM Healthcare, one of the largest private healthcare service providers in multiple GCC states and an emerging healthcare player in India, announced its financial results for the quarter ended December 31, 2019.
KEY HIGHLIGHTS OF THE QUARTER
- Revenue from operations improves by 8% to Rs. 2,322 crores compared to Rs. 2,150 crores
- EBITDA (excluding other income and before Ind AS 116) increases by 19 % Y-o-Y to Rs. 314 crores compared to Rs. 263 crores.
- PAT increases by 54% to Rs. 155 crores compared to Rs. 100 crores.
A strong focus on delivering quality healthcare through diversified healthcare offerings and enhanced efficiencies saw Aster DM Healthcare continue to grow.
Effective 1 April 2019, the Group adopted Ind AS 116 'Leases', applied to lease contracts existing on 1 April 2019. The effect of this adoption has resulted in decrease in other expenses, increase in interest expenses (included under finance cost) and an increase in depreciation and amortisation expenses for continuing operations. Performance of the Company is without the impact of Ind AS 116.
Revenue from operations for Q3FY20 recorded an increase of 8% reaching Rs. 2,322 crores on sustained organic growth from its existing operations that includes 25 hospitals, 116 clinics and over 236 pharmacies in eight countries, including India.
For 9MFY20 Vs 9MFY19, revenue from operations improved by 12% to Rs. 6,437 crores compared to Rs. 5,762 crores. EBITDA (excluding other income and before Ind AS 116) increased by 27% Y-o-Y basis to Rs. 652 crores compared to Rs. 513 crores. PAT increased by 61% to Rs. 200crores compared to Rs. 124crores in the same period previous year.
Commenting on the performance for Q3FY20, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“The third quarter of this financial year has been good for Aster DM Healthcare. The performance was primarily supported by growth in hospital segment.
Another key development was the approval by the Board of Directors of the Company of the proposal to buyback 57.42 lakh shares at a price of Rs 210 per share. This buyback program is part of our endeavor to maintain a balance between our growth aspirations and ensuring regular returns and value for our continuing shareholder.
We continue to maintain high standards of clinical excellence and with a great team under our umbrella will continue to drive growth and enhance value for all our stakeholders.”
Revenues increased by 16% to Rs. 1,218. crores in Q3FY20 from Rs. 1,053 crores in Q3FY19. EBITDA (excluding other income and before impact of Ind AS 116) increased by 24% from Rs. 149 crores in Q3FY19 to Rs. 186 crores in Q3FY20. The EBITDA margin was at 15.2% in Q3FY20 compared to 14.2% in Q3FY19.
Revenues for GCC clinics in Q3FY20 remained steady at Rs. 543 crores as compared to Rs. 538 crores in Q3FY19. EBITDA for GCC clinics was Rs. 97 crores in Q3FY19 compared to Rs. 98 crores in Q3FY20. EBITDA margins stood at 18% in Q3FY20 compared to 17.9% in Q3FY19.
Revenues increased by 10% to Rs. 623 crores in Q3FY20 from Rs. 602 crores in Q3FY19. EBITDA increased by 12% from Rs. 68 crores in Q3FY19 to Rs. 76 crores in Q3FY20.
Awards and Accreditations
Since inception, Aster DM Healthcare has been in continuous pursuit to push boundaries of excellence in health care and cater to the needs of patients, thereby setting global benchmarks in the field of medicine and patient care. Mentioned below are some of the significant achievements, in the quarter under review:
- Aster DM Healthcare presented with The CSR Label awarded by Dubai Chamber of Commerce & Industry (DCCI), the first in the region that builds on international standards while ensuring local relevance and is awarded to select companies on meeting stringent criteria.
- Aster DM Healthcare secured the winning award in the healthcare category at the Arabia CSR Awards for 2019.
- Aster DM Healthcare receives multiple recognitions at the International Patient Safety Awards 2019
- Aster Ramesh Hospitals Vijayawada sets Guinness Record for largest gathering of cardiac surgery patients.
- Aster Volunteers conferred with The Merit Award at the 43rd World Hospital Congress by the International Hospital Federation in Muscat for outstanding achievements and best practices in CSR activities.
- Aster MIMS Kottakkal wins Six Sigma Healthcare Excellence Award – 2019 for innovative start-up of the year
- Aster DM Healthcare ranked #187 on Fortune India’s – 500 Largest Corporations of India list in 2019, an upgrade from #199 rank that was held by Aster in 2018.