Aster DM Healthcare surges 14% on blockbuster Q4 earnings; PAT rises over 110%

NEW DELHI – Shares of Aster DM Healthcare skyrocketed 14.2 per cent on Wednesday as the hospital chain reported a stellar set of numbers in the fourth quarter of the previous financial year, with net profit rising more than 100 per cent on-year.

The hospital chain said its consolidated net profit surged over two-fold to Rs 246 crore for the fourth quarter ended March 2022. The healthcare provider had reported a net profit of Rs 117 crore in the January-March period of 2020-21 fiscal.

Aster DM’s share price surged to a high of Rs 197.20 versus Rs 172.70 at the previous close on the BSE.

The company reported a total income of Rs 2749.77 crores during the period ended March 31, 2022, as compared to Rs 2240.69 crore during the period ended March 31, 2021, reports said.

For the previous financial year as a whole, the company reported a total income of Rs 10,303.94 crore as compared to Rs 8658.40 crore during the financial year ended March 31, 2021, reports said.

Media reports last week said that Aster DM Healthcare has entered into a partnership with Skye Air Mobility, a drone-based logistics firm, for the delivery of diagnostic samples and medicines.

Skye Air Mobility has already conducted trial runs for a week, between Aster RV Hospital premise in J.P. Nagar and various Aster Clinics located in Mumbai, and more trials would continue until May 20, the reports said.

According to the reports, around 80 flights would be carried out under the pilot carrying blood and other diagnostics samples and medicines for Aster clinics.

The reports quoted Ramesh Kumar, Chief Executive Officer, Aster CMI Hospital as saying that these trials are early live use cases of drone technology in Indian healthcare. “The integration of AI in healthcare is going to enhance the existing services and will make the entire process of healthcare delivery more efficient.”