Metropolis Healthcare slumps after weak Q2 performance

Metropolis Healthcare tumbled 4.43% to Rs 1651 after the company reported 31% fall in consolidated net profit to Rs 40.5 crore on a 1% decline in total revenue from operations to Rs 300.3 crore in Q2 FY23 over Q2 FY22.

Reported EBIDTA fell by 11% to Rs 81.1 crore in Q2 FY23 from Rs 90.6 crore in Q2 FY22. Reported EBIDTA margin was 27% in Q2 FY23 as against 30% in Q2 FY22.

Profit before tax in Q2 FY23 stood at Rs 54.8 crore in Q2 FY23, down by 29% from Rs 77.7 crore in Q2 FY22.

Metropolis said that its profitability was impacted on account of finance cost going up due to higher interest cost on account of acquisition & impact of foreign exchange; and higher depreciation on account of investments done to fuel the future growth engines.

 

Ameera Shah, promoter and managing director, Metropolis Healthcare, said: I am extremely pleased to share that we have recorded highest ever quarterly revenue (excl. covid PCR & covid allied tests) with 16% growth on year-on-year basis.

With accelerated shift from the unorganised to the organised sector coupled with increased health awareness amongst customers and a trusted scientific image with medical fraternity, we expect the revenues growth to improve and margins to sustain at the pre-covid levels.

We have seen growth in our volumes & patient count and with increased investments in digital & marketing, manpower & customer experience initiatives, we are optimistic of sustaining the growth going forward.

Our revenue contribution from wellness segment has increased to 12% in Q2FY23 & has witnessed a healthy growth of 40% on YoY basis.

Metropolis Healthcare is a leading diagnostics company in India with a widespread 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 172 labs, 3,379 collection centres and 10,000 plus touch points.

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