Profit before tax declined by 47.8% year on year to Rs 70.64 crore in the quarter ended 30 September 2022.

EBITDA (excluding other income) declined to Rs 319 crore in Q2 FY23 as compared to Rs 343 crore in Q2 FY22. Excluding losses due to new hospitals, EBITDA stood at Rs 342 crore.

On the segmental front, revenue from hospitals stood at Rs 1,655.86 crore (up 14.46% YoY),revenue from clinics was at Rs 526.74 crore (down 12.7% YoY), Retail pharmacies (including opticals)was at Rs 626.63 crore (up 38.94% YoY).

Dr. Azad Moopen, founder chairman and managing director, Aster DM Healthcare, said: “In Q2, we had a revenue growth of 12% on a consolidated basis. Revenue in the GCC increased 9% over last year while strong growth momentum in India continued, with revenues growing 24% over Q2 FY 22. We expect to add another 2 to 3 hospitals of around 300 to 400 beds before the end of the current financial year. While this is a low margin business, this has also very low capex and shall help in increasing our ROCE. It will also help to increase the referral of cases to our flagship hospitals.”

Alisha Moopen, deputy managing director, Aster DM Healthcare, said: “Aster DM Healthcare has launched its pharmacy operations in Saudi Arabia through a tie up with the Al Hokair Holding Group. The partners will create a network of 250 plus Aster pharmacies in the Kingdom in the next 5 years. The partnership plans to open in high-street locations, communities and malls beginning with Riyadh. As Phase 2, the aim is to set up pharmaceutical manufacturing in the Kingdom.”

Aster DM Healthcare operates in various segments of the healthcare industry, which include hospitals, clinics and retail pharmacies, and provides healthcare services to patients across economic segments in various gulf corporation council (GCC) states through its various brands, such as Aster, Medcare and Access.