Aster DM healthcare tanks over 7% after company posts net loss in March quarter

The company announced its results for the year ended on March 31, 2024, and the fourth quarter of FY24 on May 28.

The company’s consolidated revenue from operations grew for the March quarter more than 20% to ₹973.59 crore against ₹806.94 crore in the corresponding quarter of the preceding fiscal. The company posted a net loss of ₹2.17 crore in the March quarter compared to a net profit of ₹133.32 crore in the same quarter of the preceding fiscal.

On a quarter-on-quarter (QoQ) basis, the company’s consolidated revenue from operations for the March quarter grew nearly 2% from ₹954.67 crore in the preceding quarter. The company slipped to losses, sequentially, compared to a net profit of ₹209.23 crore in the quarter ended December 2023.

Aster DM Healthcare’s revenue from operations for FY24 surged more than 23% to ₹3,698.9 crore compared to ₹2,994.05 crore in FY23. The company’s PAT for the year ended March 31, 2024, fell more than 55% to ₹211.56 crore compared to ₹475.49 crore in the preceding fiscal.

Shares of the hospital chain operator dropped as much as 7.53% to an intraday low of ₹351 apiece. However, the stock pared some losses to trade at ₹370 apiece, down 2.53%, on the NSE at 1:30 pm.

Aster DM Board recommends final dividend of ₹2 per share

The Board Of Directors of the company has recommended a final dividend of ₹2 per share of the face value of ₹10 for the financial year ended March 31, 2024. The record date for the payment of the dividend is August 22.

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