Aster Healthcare Q1 consolidated revenue up 12% at ₹2,662 crore

NEW DELHI: Aster DM Healthcare reported a 12% year-on-year (YoY) rise in its consolidated revenue from operations for the June quarter to ₹2,662 crore, while net profit soared 34% to ₹80 crore during the period.

“We have started Q1 on a positive note with revenue growth of 12% on a consolidated basis. Revenue in the GCC increased 10% over last year while strong growth momentum in India continued, with revenues growing 18% over Q1 FY 22. Adjusting for the contribution from Covid testing last year, GCC revenues grew 18%. In India revenues grew 26% when adjusting for Covid related vaccinations. This clearly indicates growth of business activity across both geographies,” said Azad Moopen, founder chairman and managing director, Aster DM Healthcare.

During the three months ended June, the 140-bed Aster Mother Hospital in Areekode in Kerala started operations.

Aster Labs entered four states--Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana--with two reference labs, 15 satellite labs and 109 patient experience centres.

“We expanded Aster Pharmacy branded retail stores in India, operated by Alfaone Retail Pharmacies Private Limited or ARPPL, to 176 pharmacies as of 30 June 2022. As part of its service proposition, Aster Pharmacy in India plans to launch its e-commerce operations, in the second half of FY23,” Azad Moopen said.

“We have two of our new hospitals ready for operation- Aster Sharjah, which has 101 beds the soft launch of which happened during Q1 and Aster Royal at Oman with 145 beds. We are excited to get them operational in quarter 2 of this year as we expand our footprint in GCC. Our new initiatives in digital expansion continue along the planned lines. We did successful launch of our Digital App in GCC which shall be made available in India soon,” said Alisha Moopen, deputy managing director, Aster DM Healthcare.

“We have submitted plans for the proposed integrated advanced healthcare facility at Trivandrum, capital of Kerala named as Aster Capital Hospital. The hospital is planned to be a 550-bed facility with the first phase having a capacity of 350 beds expected to be operational by FY 26,” she added.