Aster DM Healthcare Gains After Q1 Revenue Jumps 19%
The company's revenue rose to Rs 1,002 crore for the quarter ended June, compared to Rs 841 crore for the same period last year, inline with Bloomberg estimate of Rs 980.55 crore.
Shares of Aster DM Healthcare Ltd. gained more than 5% on Thursday after its first-quarter revenue rose 19.1%, in line with analysts' estimates.
The revenue of the healthcare service provider rose to Rs 1,002 crore for the quarter ended June, compared to Rs 841 crore for the same period last year, according to exchange filings on Wednesday. Analysts tracking Bloomberg estimated revenue at Rs 980.55 crore.
The company posted a profit of Rs 5,152 crore due to the disposal of business operations at Rs 5,148 crore for the three months ended June, it said.
Operating income—or earnings before interest, taxes, depreciation, and amortisation—rose 34.1% year-on-year to Rs 164 crore. The Ebitda margin expanded to 16.3% from 14.5% over the same period last year.
Shares of Aster DM Healthcare rose as much as 5.07% to Rs 364.65 apiece, the most since June 25. It pared gains to trade 4.45% higher at Rs 362.50 apiece as of 9:56 a.m. This compares to a 0.34% advance in the NSE Nifty 50.
The stock has risen 13.37% in the last 12 months. Total traded volume so far in the day stood at 0.9 times its 30-day average, rising by 14.97% year-to-date. The relative strength index was 64.08.
Out of six analysts tracking the company, five maintain a 'buy' and one suggests a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 9.8%.
