Share price of this mid-cap healthcare stock moved down by 4.8 percent on BSE to hit an intraday low at Rs. 348.4 in the trading session of Friday, following the resignation of Joint Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company.
With a market capitalisation of Rs. 17,478 crore, at 01:15 a.m. the shares of Aster DM Healthcare Limited were trading in the red at Rs. 349.55, down by 4.5 percent.
According to the recent regulatory filings with the stock exchanges, Mr. Amitabh Johri, Joint CFO and Key Managerial Personnel of Aster DM Healthcare resigned on 25th April, 2024.
The reason behind the resignation was due to the segregation of the Company’s business in the Gulf Co-operation Council region from its business in India. However, he will continue as the CFO of the segregated Aster Business at the Gulf Co-operation Council region.
Mr. Amitabh Johri was relieved of his duties as the company’s Joint CFO and KMP with effect on April 25, 2024, and Mr. Sunil Kumar M R, who is currently the Joint Chief Financial Officer, will take over as the company’s Chief Financial Officer and Key Managerial Personnel with immediate effect.
In terms of financials, the revenue from operations grew by around 16.2 percent from Rs. 3,192 crore in Q3 FY22-23 to Rs. 3,711 crore in Q3 FY23-24, accompanied by an increase in the net profit of 31.4 percent to Rs. 209 crore in Q3 FY23-24 from Rs. 159 crore in Q3 FY22-23.
As of March 2024, FIIs hold 33.48 percent of the shares, whereas DIIs hold 13.7 percent of the shares in the company, aggregating to 47.18 percent of the institutional holdings.
The company has delivered positive returns of about 4.6 percent in the last six months, whereas nearly 40.5 percent in the last one year. However, so far in 2024, it has given around 13.4 percent of negative returns.
Aster DM Healthcare Limited is one of the largest integrated private healthcare service providers operating in GCC (Gulf Cooperation Council) countries with a strong presence across primary, secondary, tertiary and quaternary healthcare.
Written by Shivani Singh
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