Aster DM Healthcare Q3 FY21 Operating revenue at Rs. 2,259 Crs

Aster DM Healthcare, one of the largest private healthcare service providers in multiple GCC states and an emerging healthcare player in India, today announced its financial results for the quarter ended December 31, 2020.

KEY HIGHLIGHTS OF THE QUARTER

- Operational Revenue at Rs. 2,258.87 Crs. for Q3 FY21 compared to Rs. 2,267.71 Crs. for Q2 FY21 and Rs. 2,321.66 Cr of Q3 FY 20.

- EBITDA (excluding other income) increased by 21% Q-o-Q to Rs. 328 Crs. compared to Rs. 271 Crs ; Q3 FY20 EBITDA was Rs. 385 Crs.

- PAT (Pre- Non-Controlling Interest) increased by 154.32% to Rs. 107.45 Crs. Q-o-Q compared to Rs. 42.25 Crs; Q3 FY20 PAT was Rs. 151.43 Crs.

Commenting on the performance for Q3 FY21, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said: "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".

Commenting on the performance for Q3 FY21, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said: "In the year 2020, accessibility meant shifting the healthcare delivery model to the homes of our patients where they feel safe and comfortable. Through use of technology and business reengineering, we introduced tele-consultation, issuance of prescription, delivery of medicines, doing lab test and providing home care. We are diversifying our business model through homecare services, diagnostics, e-Pharmacy. These are businesses we have in other geographies already and extending actively in India with our deep capabilities.

We are also focused heavily on controlling costs across the group through improving efficiencies of manpower and shared services. We are in the process of rolling out our lab business in India which besides being asset light allows us to provide end to end service to our patient base.

I feel relieved that we have been able to tide over the pandemic without too many issues and I feel confident looking forward in view of weakening Covid 19 in the geographies that we operate. We have been consistently improving our performance, and pivoted our model to maintain and strengthen our business and margin through digital tools & enhanced patient stickiness through the whole healthcare value chain".

Shares of Aster DM Healthcare Ltd was last trading in BSE at Rs.154.95 as compared to the previous close of Rs. 157.75. The total number of shares traded during the day was 4668 in over 140 trades.

The stock hit an intraday high of Rs. 159.9 and intraday low of 153.75. The net turnover during the day was Rs. 733480.

Source : Equity Bulls

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