Bangalore

Aster DM Healthcare, one of the leading private healthcare service providers in GCC and in India, today announced its financial results for the first quarter of the financial year 2024.

Commenting on the performance for Q1 FY24, Dr Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said, During Q1 FY24, we achieved an impressive 21 per cent YoY consolidated revenue growth, totaling INR 3,215 crores. Our performance during the quarter was shaped by not only the improvement in our realizations but also increase in the number of beds at existing hospitals as well as at the new facilities to cater to growing demand. The strong growth across both India and GCC regions and various cost improvement initiatives enabled even higher improvement in our EBITDA performance which recorded a robust growth of 33 per cent to Rs. 388 crores.

Our India business continued to grow faster, witnessing a substantial increase of 29 per cent in revenues reaching to INR 838 crore and EBITDA increasing by 47 per cent to Rs. 123 crores. While our project pipeline is advancing significantly, we are also building on our O&M-Asset Light strategy that has potential to generate higher ROCE over a period. We are excited to announce our collaboration with PMF Hospital in Kollam, Kerala. With this we have added a total of 530 beds under O&M Asset Light model in less than 2 years, making it a significant milestone. Overall, our Q1 performance reflects our adaptability, strategic expansion, and unwavering commitment to providing quality healthcare services amidst evolving market dynamics.