Aster DM Healthcare Q1 net rises 34 pc to Rs 79.77 cr

Aster DM Healthcare on Friday reported a 33.84 per cent rise in consolidated net profit at Rs 79.77 crore for the first quarter ended June 30, on the back of higher revenue from the hospitals and retail pharmacies segment.

The company had posted a consolidated net profit of Rs 59.6 crore in the same period last fiscal, Aster DM Healthcare said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 2,662.12 crore, as against Rs 2,371.59 crore in the corresponding period a year ago, it added.

The hospitals vertical had a revenue of Rs 1,519.76 crore in the first quarter, up from Rs 1,370.51 crore in the same period last fiscal. Clinics on the other hand registered a revenue of Rs 536.88 crore, down from Rs 561.94 crore in the corresponding quarter last fiscal.

Retail pharmacies, including opticals, clocked revenue of Rs 600.08 crore in the first quarter, as against Rs 436.46 crore in the year-ago period, it added.

Total expenses in the first quarter were higher at Rs 2,613.78 crore, as compared to Rs 2,310.18 crore in the year-ago period.

Aster DM Healthcare Founder Chairman and Managing Director Azad Moopen said during the quarter revenue in the GCC (Gulf Cooperation Council) region increased 10 per cent over last year.

Moreover, strong growth momentum in India continued with revenues growing 18 per cent indicating growth of business activity across both geographies, Moopen said.

He said in Q1, the company started operations management of a 140-bed Aster Mother Hospital at Areekode in Kerala.

Also, the company has submitted plans for a proposed integrated healthcare facility at Thiruvananthapuram, named Aster Capital Hospital, Moopen said adding, the hospital is planned to be a 550-bed facility with 350 beds expected to be operational by FY26 in the first phase.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)