Metropolis Healthcare Q3 PAT drops 24% YoY to Rs 27 cr

Metropolis Healthcare reported 23.93% decline in consolidated net profit to Rs 27.28 crore in Q3 FY24 as compared with Rs 35.86 crore in Q3 FY23.

Revenue from operations rose 1.98% YoY to Rs 391.11 crore in Q3 FY24.

Profit before tax slipped 23.18% to Rs 36.85 crore in Q3 FY24 as compared with Rs 47.97 crore in Q3 FY23.

EBITDA (before CSR& ESOP) stood at Rs 69 crore, registering the de-growth of 10.39% as compared with Rs 77 crore posted in corresponding quarter last year. EBITDA margin was 23.6% in Q3 FY24 as against 27.1% in Q3 FY23.

During the quarter, Core Business revenue (excluding revenue from Covid & Covid Allied, PPP Contracts) stood at Rs 286 crore, up 12% YoY with 9% patient volume growth & 3% RPP growth.

Premium Wellness segments revenue grew by 15% & volumes grew by 11% indicating strong brand equity & consumers trust on Metropolis.

B2C revenue growth in Mumbai stood at 18% & volume growth of 13% on account of strong brand presence & dense network.

Ameera Shah, promoter and managing director, Metropolis Healthcare, said, We continue to make positive strides in strengthening the business. Our strategic actions are yielding results and visible in our performance with B2C contribution of 53% and Specialized Tests contributing 38% of our core business revenues.

Looking ahead, our focus on the Metropolis 3.0 Strategy persists: expanding our network, strengthening doctor connections, fostering specialized and wellness segments, and upgrading IT infrastructure for an enhanced consumer experience.

Surendran Chemmenkotil, CEO, Metropolis Healthcare, said, The performance in Q3 was marginally impacted on account of heavy rainfall & floods in Chennai and adjacent areas in December 2023, leading to loss of revenues for approx. 7-8 days from Chennai region, which is one of the focus cities for Metropolis.

Metropolis Healthcare is a diagnostics company, with presence in 20 states & 220 cities. Internationally, the company has presence in South Asia, Africa, and the Middle East. It offers a comprehensive range of 4,000 plus tests and profiles that include advanced tests in diagnosis of cancer, neurological disorders, infectious diseases, and an array of genetic abnormalities. The company has a network of over 192 labs, 4,127 collection centres and over 10,000 touch points.

The scrip fell 0.13% to Rs 1612.10 on the BSE.

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