Aster DM Healthcare slips after Q3 PAT tumbles 29% YoY

Aster DM Healthcare declined 2.16% to Rs 151.75 after the company's consolidated net profit dropped 29% to Rs 107.45 crore on a 2.7% decline in net sales at Rs 2,258.87 crore in Q3 December 2020 over Q3 December 2019.

Consolidated profit before tax (PBT) skid 27.8% to Rs 115.23 crore in Q3 December 2020 over Q3 December 2019. Current tax expense for the quarter soared 27.3% to Rs 5.92 crore as against Rs 4.65 crore in Q3 December 2019. The Q3 result was declared after trading hours yesterday, 9 February 2021.

Operational revenue stood at Rs 2,258.87 crore for Q3 FY21 compared with Rs 2,267.71 crore for Q2 FY21 and Rs 2,321.66 crore of Q3 FY20. EBITDA (excluding other income) jumped 21% Q-o-Q (quarter-on-quarter) to Rs 328 crore in Q3 FY21 from Rs 271 crore in Q2 FY21, but declined 14.80% Y-o-Y (year-on-year) from Rs 385 crore in Q3 FY20.

Commenting on Q3 FY21 performance, Dr Azad Moopen, the founder chairman and managing director of Aster DM Healthcare, has said that: "As we bid farewell to an unprecedented calendar year in the history of mankind, we are seeing light at the end of the tunnel with the rolling out of COVID-19 vaccine in many countries. India, apart from the aggressive vaccination drive has also become the supplier of vaccine to many parts of the world, which will help to contain the global pandemic. In the GCC states, there has been a downward trend in the Covid cases but in U.A.E, the cases have increased recently as the second wave has set in."

"The good news is that U.A.E ranks 2nd in terms of vaccination rollout with over 1/3rd of the total population already receiving the vaccine, including the Astra Zeneca vaccine from India. In India, the daily COVID cases are at an all-time low and the vaccine rollout is also progressing well. In Kerala, where majority of our Indian business lies, the COVID cases are still high due to a late start and spiking of the pandemic," Dr Moopen added.

Aster DM Healthcare operates in various segments of the healthcare industry, which include hospitals, clinics and retail pharmacies, and provides healthcare services to patients across economic segments in various gulf corporation council (GCC) states through its various brands, such as Aster, Medcare and Access.

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