Business Wire IndiaAster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, has announced its financial results for the quarter ended December 31, 2021.
KEY HIGHLIGHTS OF THE QUARTER
- Operational Revenue increased by 19% Y-o-Y to Rs. 2,650 Crs. compared to Rs. 2,228 Crs.
- EBITDA (including other income) increased by 22% Y-o-Y to Rs. 409 Crs. compared to Rs. 334 Crs.
- PAT (Pre- Non-Controlling Interest) increased by 57% to Rs. 168 Crs. compared to Rs. 107 Crs. in Q3 FY 21
- PAT (Post Non-Controlling Interest) increased to Rs. 148 Crs., up 61% compared to
Rs. 92 Crs. in same period, previous financial year
Commenting on the performance for Q3 FY22, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:
“While we were all worried when Omicron hit and increased the number of Covid cases exponentially, it is relieving to see that this has not led to loss of many lives and the healthcare system is holding on. In the geographies that we are thickly present, vaccination coverage continues to improve with India vaccinating 75% and UAE almost 100% of adult population.
As part of Aster’s India focused growth strategy, we are taking up multiple projects, especially brownfield facilities with low capex investment but high potential opportunity in many of the states. The first of its kind, Mother Hospital, a 300-bed hospital near Calicut is being taken over for O&M with 140 beds ready for launch in first quarter of FY23. There is also a likely brown field expansion coming up attached to Aster MIMS, Calicut in an adjacent hotel which shall add additional 70 beds to the existing 680 capacity beds. These projects adding 210 beds will cost only 40 Cr. We are coming up with a 200-bed multispecialty tertiary care greenfield hospital on a leased land at Kasargod in Kerala at a cost of Rs. 140 Cr., to be completed within the next 2 years. In terms of capacity expansion at our existing hospitals, we are planning additional 100 beds in Aster MIMS Kannur for which land has already been procured.
Aster Labs, our diagnostics vertical, continues to enhance its presence in both Karnataka and Kerala. As of 31st December 2021, there are 8 satellite labs and 57 patient experience centers, and 1 reference lab. We have an aggressive growth plan for this vertical and aim to reach 33 labs and around 400 experience centers by the end of FY 23. As of 31st December 2021, Alfaone Retail Pharmacies Private Limited (ARPPL), the entity that runs ‘Aster Pharmacy’ under brand license agreement, was operating 90 pharmacies: 69 in Karnataka, 13 in Kerala and 8 in Telangana. ARPPL plans to reach around 130 pharmacies by the end of this financial year and around 300 pharmacies by the end of FY23.”
Commenting on Aster’s Digital Health journey, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:
“Our Digital journey at Aster is continuing along the planned trajectory. We are steadfast to leverage our digital foray to provide comprehensive patient care. Our App, 1 Aster shall be the primary omni-channel mode of engagement and shall allow us a unique integrated view of the patient care across healthcare touchpoints. We launched our 1.1 version in this quarter, yet again a limited launch as we enhance the feature set. Our patient base on the app has been rising. This period also saw our repeat customer count doubling in a span of 3 months.
We are also launching a Data Lake Digital initiative across Aster. This cross verticals data lake is to leverage native data across our verticals and shall help in unlocking cross-vertical opportunities and engagement. This shall have use cases across marketing, clinical and operations. This is planned to be undertaken in the next couple of quarters as we work towards engaging with technology partners.
Data integration besides unlocking various opportunities immediately, will also support and enable the 1Aster online engagement platform, where you will have e-pharmacy, tele consults, home diagnostics, home care all converging. Teleconsultation is already live, and pharmacy will be enabled next in Q4. We shall then have diagnostics and home care being launched over the next few quarters. With this, Aster will have a truly unique omni-channel health platform for its patients and will be a true differentiator for Aster in the UAE. We also plan to replicate this omni-channel care model in core markets of India, post successful launch in the UAE, in a phased approach.”
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