FY23 revenue from operations up 16% YoY to Rs. 11,933 Crs

FY23 EBITDA at Rs. 1,565 Crs. and PAT (Post NCI) at 425 Crs.

Q4 FY23 revenue from operations up 20% YoY to Rs. 3,262 Crs

Q4 FY23 EBITDA at Rs. 506 Crs. and PAT (Post NCI) at 171 Crs.

 India revenues for the year up 25% YoY to Rs. 2,983 Crs. and EBITDA grew by 28% YoY to Rs. 453 Crs.

India revenues for the quarter up 32% YoY to Rs. 804 Crs. and EBITDA grew by 62% YoY to Rs. 127 Crs.

Aster DM Healthcare, one of the largest private healthcare service providers in GCC and in India, today announced its financial results for the full year and fourth quarter of the financial year 2023.

Key Highlights for the Full Year FY23

• Operational Revenue increased by 16% Y-o-Y to Rs. 11,933 Crs. compared to
  10,253 Crs. in FY22
• EBITDA grew 6% YoY to Rs. 1,565 Crs. as compared to Rs. 1,483 Crs in FY22
• PAT (Post Non-Controlling Interest) was at Rs. 425 Crs. compared to
  526 Crs. in FY22, largely impacted by launch of 5 New Hospitals across GCC and India.
• Excluding New Hospitals and one-time other income: Revenue, EBITDA and PAT (post – NCI) are Rs. 11,776 Crs (growth of 15%), Rs. 1,655 Crs (growth of 11%) & Rs. 581 Crs (growth of 7%) respectively

Key Highlights for the Quarter

• Operational Revenue increased by 20% Y-o-Y to Rs. 3,262 Crs. compared to
  2,728 Crs. in Q4 FY22.
• EBITDA grew 9% YoY to Rs. 506 Crs. as compared to Rs. 463 Crs in Q4 FY22.
• PAT (Post Non-Controlling Interest) was at Rs. 171 Crs. compared to
  226 Crs. in Q4 FY22.
• Excluding New Hospitals: Revenue, EBITDA and PAT (post – NCI) are Rs. 3,165 Crs (growth of 16%), Rs. 532 Crs (growth of 15%) & Rs. 235 Crs (growth of 1%) respectively

Update on the Leadership

We announced the appointment of Dr. Nitish Shetty as the CEO of Aster DM Healthcare India. Dr. Shetty, a highly experienced healthcare management professional, who has been instrumental in the growth of the company’s Karnataka operations.

Commenting on the performance for Q4 FY23, Dr. Azad Moopen, Founder Chairman and Managing Director, Aster DM Healthcare, said:

“With Covid and its associated impact behind us, we are seeing robust growth across India and GCC. This reflected in our business performance in FY23 with Revenue up 16% Y-o-Y to Rs. 11,933 Crs.

FY23 has been a year of investments and capital allocation for us, witnessing an unprecedent addition of 5 hospitals, 150 Pharmacies and 7 clinics across India and GCC.  We furthered our commitment for expansion in India through adding 126 Pharmacies and 91 Labs and collection centres. 

Our India business continues to grow well with revenues for the quarter growing 32% YoY to Rs. 804 crore and EBITDA increasing by 62% YoY to Rs. 127 crore. This business is likely to continue to deliver strong growth in the coming years. Some of our hospitals have reached almost full capacity and we are adding new beds in such areas.

As always, patient welfare remained at the forefront of our operations. We have made significant investments in cutting-edge medical technology, enabling the delivery of advanced treatments and procedures across various specialties. This will enable us to further enhance the clinical outcomes and overall patient experience.”

Commenting on Aster’s New Business Initiatives, Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, said:

“FY23 was a year of Growth Investment for us. It is unprecedent for our GCC business to have 2 new hospitals, 24 Pharmacies and 6 Clinics in a year. In this year we also saw Covid Testing Revenue of FY22 actively being replaced by Core Healthcare Revenue which grew by 26% across Hospitals, Pharmacies and Clinics. 

We continued our journey towards digital transformation, implementing innovative technologies to improve operational efficiency, enhance patient engagement, and ensure seamless healthcare delivery. This included the adoption of telemedicine platforms, digital health records, and remote monitoring solutions, providing patients with convenient access to healthcare services and empowering them to actively participate in their own well-being.

We further reinforced our commitment to research and innovation by collaborating with renowned medical institutions and industry experts. We signed MoU with John Hopkins University, University of Michigan and Netherlands. These partnerships facilitated the development and implementation of ground-breaking treatments, medical protocols, and healthcare solutions, thus advancing the frontiers of medical science and improving patient outcomes.”