Aster India reports strong revenue and EBITDA performance.

H1 FY25 revenues up 18% YoY to INR 2,088 Crs;

H1 FY25 Operating EBITDA up 44% YoY to INR 410 Crs

Q2 FY25 revenues up 16% YoY to Rs. 1,086 Crs.; Op. EBITDA grew 48% to Rs. 233 Crs

Aster DM Healthcare, one of the leading integrated healthcare service providers in India, today announced its financial results for the quarter ended September 30, 2024.

Key Financial Highlights

Revenue

• Revenue grew 18% YoY to INR 2,088 Crs. in H1 FY25 Vs. INR 1,772 Crs. in H1 FY24.
• Revenue grew 16% YoY to INR 1,086 Crs. in Q2 FY25 Vs. INR 934 Crs. in Q2 FY24.

EBITDA

• Operating EBITDA grew 44% YoY to INR 410 Crs. in H1 FY25 Vs. INR 285 Crs. in H1 FY24.
• Operating Margins stood at 19.6% in H1 FY25 as compared to 16.1% in H1 FY24.
• Operating EBITDA grew 48% YoY to INR 233 Crs. in Q2 FY25 Vs. INR 157 Crs. in Q2 FY24.
• Operating EBITDA Margins stood at 21.4% in Q2 FY25 Vs. 16.8% in Q2 FY24.

Profits

• PBT grew by 134% YoY to INR 284 Crs. in H1 FY25 Vs. INR 121 Crs. in H1 FY24.
• Net Profit (post NCI) grew by 88% to INR 171 Crs. in H1 FY25 Vs. INR 91 Crs. in H1 FY24.

Commenting on the performance for H1 FY25, Dr. Azad Moopen, Founder and Chairman, Aster DM Healthcare, said: “We are pleased with the momentum built in the second quarter of FY25, which reflects our unwavering focus on operational excellence and capacity enhancement. In H1 FY25, our India business achieved 18% YoY growth, reaching INR 2,088 crores, driven by increased occupancy and growth in ARPOB. The Operating EBITDA grew by 44% YoY to INR 410 crores and net profits (post NCI) grew by 88% YoY to INR 171 crores in H1 FY25. The steady growth across our core businesses, combined with strategic cost optimization, has significantly strengthened our margins with H1FY25 Operating EBITDA margins standing at 19.6%.”

Dr. Moopen further added, “As we expand, with plans to surpass ~6,800 beds by FY27, Aster DM Healthcare is well-positioned to meet the increasing demand for advanced healthcare in India. I am pleased to share that 9 Aster Hospitals are now accredited in the new Digital Standards Published by NABH signifying our commitment to Digital Transformation. Amongst them 5 Hospitals have been accorded highest accreditation in Platinum category thus underscoring our leadership in digital healthcare transformation.”

India Performance Highlights

• Overall Operating EBITDA margin of 19.6% in H1 FY25 (16.1% in H1 FY24)
• Core hospital business delivered Operating EBITDA margin of 22.4% in H1 FY25 (19.1% in H1 FY24)
• Matured hospital (6+ years since commencement) Op. EBITDA margins at 25% in H1 FY25 (22% in H1 FY24) and ROCE at 32%
• Aster Whitefield hospital (Bangalore) achieved ~67% occupancy levels and ARPOB at INR ~70,000 in H1 FY25
• ALOS has improved to 3.2 days in H1 FY25 from 3.4 days in H1 FY24
• Payor mix improved with Insurance business at 30% (i.e. +300 bps), offset by lower scheme business in H1 FY25.
• Aster Labs revenue grew by 17% YoY in Q2 FY25, continuing to deliver positive EBITDA margin at 11% in Q2 FY25 from 3.4% in Q1 FY25
• Successful operationalised 100 beds at MIMS Kannur in the last quarter.
• Plans to add ~1800+ beds by FY27; New addition of Aster Women and Child in Hyderabad with 300 beds