Overview
Aster DM Quality Care Limited, formed by the merger of Aster DM Healthcare Limited and Quality Care India Limited effective 1 July 2026, released its Q1 FY27 financial results for the quarter ended 30 June 2026.
Financial Performance (Combined Proforma)
The combined entity reported revenue of INR 2,597 crore, representing a 20 % year‑on‑year increase. Operating EBITDA rose 30 % YoY to INR 576 crore, delivering an operating EBITDA margin of 22.2 %, an expansion of 170 basis points from the prior year. Excluding the Kasargod Hospital, operating EBITDA grew 31 % YoY and the margin stood at 22.4 %, up 190 basis points. Return on capital employed (ROCE) improved to 22.9 %, a rise of 246 basis points.
Operational Highlights
The Kasargod Hospital achieved monthly EBITDA break‑even in its ninth month of operations. The group served approximately 2 million out‑patient and in‑patient individuals in Q1 FY27, a 13 % increase over the same period last year. Patient volume growth for the combined platform was 13 % YoY.
Merger and Network Scale
The merger created a network of 39 hospitals located in 28 cities, encompassing more than 10,890 beds. The combined platform brings together the Aster, CARE, Evercare and KIMSHEALTH brands, positioning the group among the top three hospital chains in India. Management indicated an ambition to expand the bed count to over 15,000 in the coming years.
Segment‑Specific Results
Aster DM Healthcare (excluding Kasargod)
Revenue grew 22 % YoY to INR 1,311 crore. Operating EBITDA (ex‑Kasaragod) increased 30 % YoY to INR 279 crore, with a margin of 21.7 % versus 20.0 % in Q1 FY26. Normalised profit after tax (PAT1) rose 46 % YoY to INR 131 crore. Average revenue per patient (in‑patient) climbed 10 % YoY to INR 1,30,352. Total patient volume rose 16 % YoY. Matured hospitals posted a 19 % revenue increase, while emerging hospitals recorded a 95 % surge.
Quality Care India
Revenue rose 19 % YoY to INR 1,287 crore. Operating EBITDA grew 32 % YoY to INR 299 crore, and the EBITDA margin improved to 23.2 % from 21.1 % in the prior year. Average in‑patient revenue increased 9 % YoY to INR 1,44,064. Total patient volume grew 10 % YoY. Matured hospitals achieved an 18 % revenue rise, and emerging units posted a 47 % increase.
Management Commentary
Executive Chairman Dr Azad Moopen described the merger as a defining milestone in a four‑decade journey, emphasizing a vision of greater scale, clinical excellence and impact, and targeting a network of over 15,000 beds. Managing Director & Group CEO Mr Varun Khanna highlighted the 20 % revenue growth, 30 % EBITDA increase and the 13 % rise in patient count, reaffirming a focus on disciplined execution, technology‑enabled care and long‑term value creation.
Outlook
The company indicated that forthcoming quarters will concentrate on unlocking the full potential of the combined platform, enhancing patient care and driving operational excellence.
Disclaimer
The release contains forward‑looking statements subject to risks including government actions, economic developments and technological uncertainties. Actual results may differ materially. Quality Care figures are indicative and subject to statutory audit adjustments; proforma merger numbers are pending final audit.