Hospital chain Aster DM Healthcare Ltd on Wednesday (July 31) reported a net profit of ₹ 5,152.2 crore for the first quarter that ended June 30, 2024. In the corresponding quarter, Aster DM Healthcare posted a net profit of ₹20 crore, the company said in a regulatory filing.

The company’s revenue from operations increased 23.7% to ₹565.7 crore as against ₹457.2 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA rises 22% to ₹101.3 crore in the first quarter of this fiscal over ₹83 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 17.95% in the reporting quarter as compared to 18.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. Aster DM Healthcare reported an exceptional gain of ₹372.7 crore for the first quarter.

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Aster DM Healthcare’s core hospital and clinic business delivered an operating EBITDA margin of 21% in Q1 FY25. Matured hospitals, those operating for more than six years, achieved operating EBITDA margins of 23.2% in the same period.

The Whitefield Hospital in Bengaluru reached 65% occupancy levels, with ARPOB (Average Revenue Per Occupied Bed) exceeding ₹70,000. The payor mix improved, with the insurance business accounting for 30% of the mix, an increase of 200 basis points, offsetting a lower scheme business.

The Karnataka and Maharashtra cluster saw a 38% year-on-year revenue growth and a 55% year-on-year growth in operating EBITDA. Additionally, Aster Labs’ revenue grew by 15% year-on-year in Q1 FY25, continuing to deliver a positive operating EBITDA margin.

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The company said it has concluded the separation of its Gulf Cooperation Council business on April 3, 2024. After the sale of GCC business, the company received ₹5,569.96 crore as a dividend from Affinity Holdings Private Ltd, a subsidiary in Mauritius.

Affinity also redeemed the preference shares held by the company for an amount of ₹1,828.52 crore. The redemption of preference shares resulted in a gain of ₹372.70 crore for the company.

The results came after the close of the market hours. Shares of Aster DM Healthcare Ltd ended at ₹346.95, down by ₹1.30, or 0.37% on the BSE.

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