India's Aster DM hits record high after reporting Q1 results
BUZZ-India's Aster DM hits record high after reporting Q1 results ** Shares of Aster DM Quality Care Limited ATRD.NS rise 1.9% to an all-time high of 858.80 rupees
** Hospital chain operator posts June-qtr revenue from operations rises 21.6% YoY to 13.11 billion rupees ($137.70 million); net profit falls 81.2%
** Reports operating EBITDA margin of 22.2%, up 170bps YoY
** "We aspire to create...a unified network with over 10,800 beds across 28 cities. Over the coming years, we expect to expand this network to more than 15,000 beds" - Executive Chair
** Stock trades at forward 12-months P/E of 59.7 vs industry median of 47.2
** All 11 brokerages covering the stock rate it "buy" or higher; their median PT is 853 rupees - LSEG
** YTD, ATRD up 39.4% vs 0.4% fall in Nifty 500 Index .NIFTY500
($1 = 95.2075 Indian rupees)
(Reporting by Abhinav Parmar in Bengaluru)
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India's Aster DM hits record high after reporting Q1 results