Aster DM Healthcare reports 24% revenue growth in FY24

The company showcased strong performance in India with revenues reaching Rs. 3,699 crore and operating EBITDA up 30% YoY

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New Delhi: For the full year FY24, Aster DM Healthcare’s revenues surged by 24% YoY to Rs. 3,699 crore, compared to Rs. 2,983 crore in FY23. 
The operating EBITDA for the year rose by 30% to Rs. 620 crore from Rs. 477 crore in the previous year. 
In the fourth quarter alone, the company reported a revenue growth of 22% YoY to Rs. 978 crore, while the operating EBITDA increased by 24% to Rs. 167 crore.
Profits also saw substantial growth, with Profit Before Tax (PBT) increasing by 34% year-over-year to Rs. 281 crore. Adjusted Profit After Tax (PAT) surged by 63% to Rs. 240 crore, and reported PAT grew by 28% to Rs. 188 crore. Reflecting confidence in the company’s performance, the Board has recommended a 20% final dividend of INR 2.0 per equity share for FY24, pending shareholder approval.
Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare, stated, “In FY24, our India business showcased a remarkable 24% YoY revenue growth, surging to Rs. 3,699 crores, aided by an increase in bed capacity of 550+ beds and ARPOB growth of 10% in FY24. The Operating EBITDA grew by 30% YoY to Rs.620 crores, supported by the better performance of our mature hospitals delivering 22.4% Operating EBITDA margin in FY24.”
He further added, “As we progress on our journey, we are on track to add ~1700 beds to reach 6,500+ beds by FY27 through a prudent mix of brownfield and greenfield projects which will result in our Aster Medcity and Aster CMI hospitals expanding to 950+ beds and 850+ beds respectively.”
Aster DM Healthcare has received notable accolades, including being named ‘Hospital Chain of the Year’ at the ET Healthcare Awards and Financial Express Healthcare Awards for FY23-24. Aster Medcity (Kochi) and Aster CMI (Bengaluru) were also ranked among the top multispecialty hospitals in India by Times of India, Outlook, Newsweek, and The Week.
Aster DM Healthcare successfully separated its India and GCC businesses, with Affinity Holdings Limited receiving USD 907.6 million. A consortium led by Fajr Capital acquired a 65% stake in Aster GCC, with the Moopen family retaining a 35% stake. In the Indian operations, the Moopen family continues to hold the 41.88% stake. Post-transaction, a special dividend of Rs. 118 per share was distributed, representing 80% of the net consideration received. The remaining 20% is earmarked for strategic initiatives, particularly inorganic growth opportunities.