Shares of Aster DM Healthcare dropped in early trade on May 29 after the hospital company reported a net loss for the January-March quarter of FY24. The stock, however, quickly recouped much of its losses.
Aster DM Healthcare posted a net loss of Rs 24 crore in Q4FY24, compared to a net profit of Rs 170.8 crore in the same period last year. The bottom line was impacted by higher tax expenses and contributions from discontinued operations.
Despite the net loss, the company saw revenue growth of 20.65%, reaching Rs 973.6 crore, up from Rs 806.9 crore in the previous fiscal year’s same quarter. The company’s operational performance improved as well, with Average Revenue Per Occupied Bed (ARPOB) showing positive trends. EBITDA margin expanded by 100 basis points, reaching 16.4% in Q4.
As of 10:50 am, the shares were trading 1.50% lower at ₹373.90 on the NSE.
