Aster DM Healthcare Thursday, February 13, 2020 1:27PM IST (7:57AM GMT)   (BSE:540975)(NSE:ASTERDM) Aster DM Healthcare Q3FY20 Revenue up 8 Percent to Rs. 2,322 Crores, PAT up 54 Percent at Rs. 155 Crores   Bangalore, Karnataka, 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.  

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.”
 
Segmental Performance

Hospitals

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.

Clinics

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.

Pharmacies

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.

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 hospitals, and clinics. We have over 20,000 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.

DISCLAIMER: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Aster DM Healthcare will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

For more information about us, please visit www.asterdmhealthcare.com

  Media Contact Details

Sumanta Bajpayee, Head – Investor Relations and M&A Aster DM Healthcare, ,+91-7680880094 ,+971 56539 8403 , sumanta.bajpayee@asterdmhealthcare.com

Lavanya Mandal, Head of PR and Internal Communications Aster DM Healthcare,
,+971 528126577 , lavanya.mandal@asterdmhealthcare.com

Rishab Barar,
CDR India,
,+91 (22) 66451237 / 1235 , rishab@cdr-india.com

Gavin Desa,
CDR India,
,+91 (22) 66451237 / 1235 , gavin@cdr-india.com