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  1. Aster DM Healthcare stock surges on strong Q1 results; check details

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Aster DM Healthcare stock surges on strong Q1 results; check details

Upstox

3 min read | Updated on August 01, 2024, 13:32 IST

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SUMMARY

Shares of Aster DM Healthcare jumped nearly 8% in morning trade on Thursday, August 1, 2024, following robust June 2024 quarterly earnings. The net profit skyrocketed to ₹5,152.2 crore from ₹19.85 crore in the same quarter of last year, while Aster India’s revenue came in at record high in Q1 FY25. The EBITDA and PAT margins expanded sharply in the quarter too.

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Aster DM Healthcare shares rally 8% on robust Q1; net profit surges multifold, highest-ever revenue; check details

Aster DM Healthcare shares rally 8% on robust Q1; net profit surges multifold, highest-ever revenue; check details

Aster DM Healthcare Ltd shares rose sharply by 7.5% on Thursday to record an intraday high of ₹372.9 per piece on the National Stock Exchange (NSE), as markets reacted to the company’s robust financial results for the quarter ended June 30, 2024.

The healthcare firm posted a multifold surge in net profit during the first quarter of the current financial year to ₹5,152.2 crore, skyrocketing by a breathtaking amount from ₹19.85 crore in the same period last year.

The massive profit surge in the quarter under review was a result of Aster DM Healthcare completing the successful segregation of its GCC (Gulf) business. The company made a gain of ₹5,148.09 crore on the disposal of business operations in the quarter, which attributed majorly to the net profit surge in Q1 FY25.

In the quarter ending December 31, 2023, Aster DM Healthcare witnessed a net loss of ₹2.17 crore.

The company’s consolidated revenue from operations reported a healthy double-digit growth of 20% year-on-year (YoY) to in the June 2024 ended quarter ₹1,002 crore from ₹838 crore in the corresponding quarter of the previous fiscal year.

The company’s capacity beds increased by 446 in the June 2024 quarter to a total of 4,869 in number compared to 4,423 beds in the June 2023 quarter, witnessing a 10% growth, while the average occupied bed count rose 8% YoY to 2,367 in the period.

Aster India’s ARPOB gained 12% to over ₹44,200 in the quarter under review as opposed to north of ₹39,400 in Q1 FY24.

The leading healthcare service provider’s operating Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 39% on a YoY basis to ₹177 crore in the quarter under review against 128 crore in the same period of the last fiscal year, while the operating EBITDA margins expanded to 17.7% from 15.3% in the year-ago period.

The company’s profit before tax (PBT) rallied by a whopping 125% on-year in Q1 FY25 to ₹123 crore versus ₹54 crore witnessed last year, while its net profit (post NCl) jumped 80% YoY to ₹74 crore in the June 2024 quarter from ₹41 crore in the year-ago quarter.

Its profit after tax (PAT) margin improved significantly to 7.4% in the April to June 2024 period as compared to 4.9% last year.

Shares of Aster DM Healthcare were trading 5.6% higher at ₹366.55 per piece in the afternoon session on August 1, 2024, at 12:58 pm on the NSE.

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