Aster DM Healthcare Q4 results: Net loss at Rs 2.17 cr, revenue up 22%

Bengaluru-based healthcare firm Aster DM Healthcare reported a consolidated net loss of Rs 2.17 crore in the fourth quarter ended March 31 on account of a one-time impact due to net deferred tax liability of Rs 52.4 crore. In the same quarter the previous year, the firm reported a net profit of Rs 182.59 crore. The company’s revenue grew 22 per cent year-on-year (Y-o-Y) to Rs 978 crore in Q4 FY24 as against Rs 804 crore in Q4 FY23.

Ebitda grew 24 per cent Y-o-Y to Rs 167 crore in Q4 FY24.

The firm announced the completion of the segregation of its India and Gulf Cooperation Council (GCC) businesses, having obtained all necessary regulatory approvals and receiving a cash consideration of $907.6 million. Aster DM’s consolidated profit before tax increased to Rs 72.32 crore in Q4 FY24 as compared to Rs 56.67 crore in Q4 FY23. The company said that India (continued operations) has a one-time impact “due to recognition of net deferred tax liability to the tune of Rs 52.4 crore, arising out of the transition to the new tax regime under the Income Tax Act, following the segregation of the GCC business”. GCC (discontinued operations) has an exceptional expense of Rs 65.4 crore of costs relating to the segregation of the GCC business.

In FY24, Aster DM’s India business reported a 24 per cent year-on-year revenue growth, reaching Rs 3,699 crore. This growth was driven by an increase of over 550 beds in capacity and a 10 per cent rise in ARPOB (average revenue per occupied bed). “The operating Ebitda grew by 30 per cent Y-o-Y to Rs 620 crore, supported by the better performance of our mature hospitals delivering a 22.4 per cent operating Ebitda margin in FY24,” said Azad Moopen, founder and chairman, Aster DM Healthcare.

Aster DM has appointed Alisha Moopen as the deputy managing director for a term of 5 years with effect from August 07, 2024.

Additionally, the company’s international business grew by 44 per cent year-on-year, reaching Rs 188 crore in FY24 compared to Rs 131 crore in FY23. The new business segment, encompassing labs and pharmacies, expanded even more rapidly, with a 32 per cent year-on-year increase, achieving Rs 286 crore in FY24.

Following segregation, Aster DM Healthcare (India) will now focus on geographic growth through greenfield and brownfield expansions over the next three years.