Aster DM Healthcare Q1 Review - Good Performance On Low Base, GCC Recovery: ICICI Direct
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ICICI Direct Report
Aster DM Healthcare Ltd. reported steady Q1 FY22 results.
The company's revenues grew 34.7% YoY and declined 0.8% QoQ to Rs 2371.6 crore driven by 83.9% YoY, 14.3% QoQ growth in the India business to Rs 550 crore and 24.7% YoY growth (3.7% QoQ decline) in GCC countries to Rs 1900 crore.
Aster DM Healthcare's Ebitda margins improved 374 basis points to 11.8% but declined 159 bps QoQ mainly due to increase in raw material and employee expenditure.
Ebitda grew 96.8% YoY and declined 12.5% QoQ to Rs 280.9 crore.
Subsequently, net profit declined 57.8% QoQ to Rs 44.5 crore.
Delta vis-a-vis Ebitda was mainly due to higher tax expenditure.
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