Indian hospital chain operator Aster DM Healthcare has reported profit from continuing operations of Rs810m ($9.67m) for the first quarter (Q1) of fiscal year 2025 (FY25), an 81.3% increase from Rs446m ($5.32m) in Q1 FY24.
Notably, these figures exclude a one-time gain of Rs51.48bn from the sale of the company’s Gulf business in Q1 FY24.
Profit from continuing operations was Rs417m in the preceding quarter (Q4 FY24), which ended on 31 March 2024.
The company posted a net profit (post NCI) of Rs740m in Q1 FY25, up by 80% from Rs410m in Q1 FY24.
Its revenue from operations saw a 20% year-on-year (YoY) increase to Rs10.02bn in the reported quarter, which concluded on 30 June 2024, compared to Rs8.41bn in Q1 FY24.
This also represents a slight increase from Rs9.73bn in Q4 FY24.
Total income for Q1 FY25 was reported at Rs10.50bn, up from Rs8.49bn in Q1 FY24 and Rs9.77bn in Q4 FY24.
Profit before share of profit/loss of equity accounted investees and tax (PBT) grew by 125% YoY to Rs1.22bn in Q1 FY25, compared to Rs540m in Q1 FY24, with the PBT for Q4 FY24 at Rs751m.
Operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q1 FY25 increased by 39% YoY to Rs1.77bn from Rs1.28bn in Q1 FY24.
Meanwhile, operating EBITDA margins rose to 17.7% in Q1 FY25 from 15.3% in Q1 FY24.
The core Hospital & Clinics business delivered an operating EBITDA margin of approximately 21% in Q1 FY25.
Aster DM highlighted the performance of mature hospitals, which are those with more than six years of operation, reporting operating EBITDA margins of 23.2% in Q1 FY25.
The Whitefield hospital in Bangalore achieved 65% occupancy levels, with an average revenue per occupied bed (ARPOB) exceeding Rs70,000 in Q1 FY25.
Revenue and operating EBITDA for the Karnataka & Maharashtra cluster grew by 38% and 55% YoY, respectively, indicating strong regional performance.
Aster DM Healthcare founder and chairman Dr Azad Moopen said: “With the successful segregation of our GCC business, we are now a pure-play India entity, as we embark on a new journey FY25 onwards.
“In Q1 FY25, our India business achieved 20% YoY growth delivering the highest ever revenue performance of Rs10.02bn, aided by an increase in bed capacity and growth in ARPOB. The Operating EBITDA grew by 39% YoY to Rs1.77bn and net profits (post NCI) grew by 80% YoY to Rs74 crores in Q1 FY25.”
Aster DM Healthcare has a network that includes 19 hospitals with 13 clinics, 4,869 beds, 217 pharmacies operated by Alfaone Retail Pharmacies under a brand license from Aster.
It also has 243 labs and patient experience centres across five states in India.
