Aster DM Healthcare slipped 4.03% to Rs 132.30 after consolidated net loss of Rs 88.59 crore in Q1 June 2020 compared with net profit of Rs 10.05 crore in Q1 June 2019.
Consolidated net sales skid 13.2% to Rs 1,760.63 crore in Q1 June 2020 as against Rs 2,028.59 crore in Q1 June 2019. Pre-tax loss stood at Rs 84.72 crore in Q1 June 2020 compared with pre-tax profit of Rs 12.28 crore incurred in Q1 June 2019. Current tax expense for the quarter jumped 69.9% to Rs 4.74 crore as against Rs 2.79 crore in Q1 June 2019. The Q1 earnings were announced after trading hours yesterday, 12 August 2020.
EBITDA dropped 36.16% to Rs 143 crore in Q1 FY21 as against Rs 224 crore in Q1 FY20. EBITDA margin stood at 8.1% in Q1 FY21 as compared to 11% in Q1 FY20.
Consolidated net debt reduced by Rs 269 crore to Rs 2,515 crore as of 30 June 2020 over 31 March 2020.
On 9 August 2020, there had been an unfortunate fire accident in a hotel that Dr. Ramesh Cardiac and Multi Speciality Hospital (RCMHPL) had recently entered into an arrangement with, for providing medical services to persons who tested positive for COVID-19. The fire accident has resulted in unfortunate causalities. The group holds 51% stake in RCMHPL. RCMHPL is not a material subsidiary of the group. Being a non-adjusting subsequent event, the incident did not have any effect on the results for the reporting period. RCMHPL and the group are in the process of assessing the financial effect of the incident on future periods and are presently unable to quantify the same.
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.
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