New Delhi, November 10, 2020: Aster DM Healthcare, one of the largest private healthcare service providers in multiple GCC countries and an emerging healthcare player in India, today announced its financial results for the quarter ended September 30, 2020.
KEY HIGHLIGHTS OF THE QUARTER
· Operational Revenue improves by 9% Y-o-Y to Rs. 2,268 Crs. compared to Rs. 2,087 Crs.
· EBITDA (excluding other income) increases by 11 % Y-o-Y to Rs. 271 Crs. compared to Rs. 245 Crs.
· PAT (Pre- Non-Controlling Interest) increases to Rs. 42 Crs. Y-o-Y compared to Rs. 7 Crs.
· PAT (Post Non-Controlling Interest) increases to Rs. 33 Crs. Y-o-Y compared to Rs. 3 Crs.
Commenting on the performance for Q2 FY21, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“The greatest pandemic mankind has ever witnessed in lifetime is still continuing with its second wave in many countries. Almost all countries have lifted their lockdown restrictions and everyone is adjusting to the ‘new normal’ despite the second wave. Our businesses have come back to normal in the GCC, however India operations are still lagging behind even though the new cases in India have dropped significantly in the last month. I believe that the innate strength in our diversified business model has helped us maintain the business amidst the pandemic situation.
As we pass this journey, some of the key learnings that have taken a permanent berth in our strategy formulation process are sustainability of the revenue streams, unwavering focus on cost control and maintaining robust liquidity in the system. I would also like to share here that the cost optimization projects which were initiated in the past two fiscals with intentions to drive in more cost efficiencies at the levels of manpower, materials and other direct expenses have helped us to become more efficient.
Some of our new initiatives such as Aster Labs in India, Telehealth, and Aster@Home have been seeing increase in business volume month by month. Aster Labs, has so far conducted more than 26,500 COVID tests including government and private hospital samples. With the help of tele and digital communication, we have managed to scale up our Telehealth services to deliver and facilitate health and health related services. Another important area where we are focusing to provide service and additional revenue streams is Aster@Home, which is the home care division, which is already very active in Kerala and Bangalore.
About Aster DM Healthcare
Aster DM Healthcare Limited is one of the largest private healthcare service providers operating in multiple GCC states and is an emerging healthcare player in India. With an inherent emphasis on clinical excellence, we are one of the few entities in the world with a strong presence across primary, secondary, tertiary and quaternary healthcare through our 26 hospitals, 115 clinics and over 224 pharmacies in seven countries, including India. We have over 18,000 plus dedicated employees across the geographies that we are present in, delivering a simple yet strong promise to our different stakeholders: “We’ll treat you well.” We reach out to all economic segments in the GCC states through our differentiated healthcare services across the “Aster”, “Medcare” and “Access” brands.
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