Aster DM Healthcare, one of the largest private healthcare service providers in multiple GCC states and an emerging healthcare player in India, today announced its financial results for the quarter&full year ended March 31, 2019.
The Company recorded a net profit of Rs. 335 crore for the full year ending March 31, 2019. This represents a year-on-year increase 140% when compared to an adjusted PAT of Rs. 139 crore in full year ending March 31, 2018.
For the quarter ending 31st March 2019, revenue from operations increased by 23% to Rs. 2,201 and EBITDA increased by 33% to Rs. 350 crore. The Company recorded a net profit of Rs.209 crore for the quarter ending March 31, 2019. This represents a year-on-year increase when compared to an adjusted PAT of Rs. 145 crore registered in the same quarter of 2018 which is an increase of 44%.
Sustained revenue growth has resulted from its existing operations thatincludes24 hospitals, 114 clinics and over 219 pharmacies in nine countries, including India.
The Company’s strong growth is a reflection of its focus on quality healthcare, the strength of its diversified healthcare offerings and a strong thrust on enhancing efficiencies.
Financial Performance Highlights
Performance Review for Q4FY19 vs. Q4FY18
- Revenue from operations improves by 23% to Rs. 2,201crore compared to Rs. 1,784crore
- EBITDA (excluding other income)increasesby 33% Y-o-Y to Rs. 350crore compared to Rs. 263crore
- PAT (adjusted for exceptional income in previous year) increases to Rs. 209crore compared to Rs. 145crore
Performance Review for FY19 vs. FY18
- Revenue from operations improves by 18% to Rs. 7,963 crore compared to Rs. 6,721 crore
- EBITDA(excluding other income) grew by 41% Y-o-Y to Rs. 863crore compared to Rs. 613crore
- PAT (adjusted for exceptional income in previous year) increased by 140% to Rs. 335crore compared to Rs. 139crore
Commenting on the performance for Q4 &FY19, Dr. Azad Moopen, Chairman, Aster DM Healthcare, said:
“We are very happy to report strong growth at both the top line and EBITDA level. All hospitals in the GCC and India are performing well and new hospitals in India are also doing better than expected.
In line with our asset light focus, work at all our new hospital pipeline projects both in GCC and India are progressing well. We are optimistic however that all these facilities will achieve swift break even on the back of increasing occupancy and better utiiisations..
The quarter under review has been our best quarter in the year under review with seasonalitytoo playing to our favour. “
Segmental Performance
Hospitals
Aster DM Healthcare’s Hospital network consists of 12hospitals in GCC states and 12multi-specialty hospitals in India. Our hospitals in India are located in Kochi, Calicut, Kottakkal,Wayanad, Bengaluru, Kolhapur, Vijayawada, Guntur, Hyderabad&Ongoleand are generally operated under the “Aster”, “MIMS”, “Ramesh” or “Prime” brands.
Revenues increased by 22% to Rs. 3,969crore in FY19 from Rs. 3,241crore in FY18. EBITDA (excluding other income)increased by37% from Rs. 364 crore in FY18 to Rs. 501 crore in FY19. The EBITDA margin was at 12.6% in FY19 compared to 11.3% in FY18. This performance was driven by addition of new specialties, services and increase in beds.
Clinics
We are one of the largest and most widespread network of clinics across the Middle East. The Aster DM network has 114 clinics in total with 106 clinics in GCC states and 8clinics in India.
Clinics have been critical indeveloping Aster’s brand salience, principally in new locations and geographies. Clinics act as a referral for Aster hospitals. Clinics also crucial for pharmacies and most pharmacies are integrated with clinics, which ensure higher footfalls and faster breakeven. The asset light nature of clinics along with higher return ratios has helped Aster expand its network of clinics rapidly without impacting its balance sheet.
Revenues for GCC clinics increased by 14% to Rs. 1,990crore in FY19 from Rs. 1,748crore in FY18. EBITDA for GCC clinicsincreased50% from Rs. 210crore in FY18 to Rs. 315crore in FY19. The EBITDA margin was at 15.9% in FY19 compared to 12% in FY18. This performance was driven byramp up in new clinics set up in GCC states in the recent past and increase in footfalls from existing clinics.
Pharmacies
We are the largest pharmacy chain in the GCC with 219 retail stores including 186 in UAE, 7, 11, 6, 7and 2 in Kuwait, Jordan, Qatar, Oman andBahrain respectively. An improving product mix combined with exclusive tie ups and strong associations with various pharma companies have all resulted in a healthy profitability profile. Revenues increased by 21% to Rs. 2,178crore in FY19 from Rs. 1,798crore in FY18. EBITDA increased20% from Rs. 186crore in FY18 to Rs. 223crore in FY19.
";
