Healthcare service provider Aster DM Healthcare posted a 17.77 per cent increase in its consolidated revenue from operations during the quarter concluded on September 30, 2023, which came in at Rs 3,316.63 crore, in contrast to Rs 2,816.30 crore in Q2 FY23. The company reported a loss of Rs 30.79 crore against a profit of Rs 46.21 crore in Q2 FY23. This reduction in Profit After Tax (PAT) can be attributed to an increase in total expenses.
On a sequential basis, the company exhibited a 3.15 per cent increase in revenue along with EBITDA, which grew 21 per cent year-on-year.
Revenue for India increased by 23 per cent year-on-year, coming to Rs 934 crore.
Commenting on the result, Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare, stated, “In Q2 FY24, our consolidated revenue witnessed an impressive 18 per cent YoY growth, reaching Rs 3,317 crore, attributed to the successful ramp-up of new hospitals initiated in the last two financial years. This growth was further amplified by various cost-saving initiatives, emphasizing our commitment to operational efficiency.
This quarter, the GCC business increased 16 per cent in revenue YoY, reaching Rs 2,383 crore."