Page 3 - Metropolis Healthcare

Metropolis Healthcare gets Rs 24 cr income tax demand from Mumbai officials

Metropolis Healthcare Ltd on Monday said it has received a Rs 24.46 crore income tax demand from the income tax authority. An income tax demand of Rs 24.46 crore (tax plus interest) has been raised by the Assistant Commissioner of Income Tax, Mumbai, Income Tax Department (ACIT) for assessment year (AY) 2023-24, Metropolis Healthcare said in a regulatory filing. The actual demand for AY 2023-24 will come to Rs 24.19 crore after adjusting rectification of Rs 27 lakh pertaining to AY 2023-24, it added. For the Rs 27 lakh demand, tax plus interest, for AY 2023-24, the company has brought to the notice of ACIT that an error has occurred during the computation of tax and ACIT has not granted credit for certain taxes already paid by the company. Metropolis Healthcare further said it has filed an application for rectification and issuance of the rectification order on account of TDS credit, advance tax, and self-assessment tax credits not allowed. ACIT has accepted the application and is

Metropolis Healthcare Q3 results: PAT down 24% due to Chennai floods

On a sequential basis, the company exhibited a 5.63 per cent decline in revenue along with PAT, which declined by 23.41 per cent

Metropolis Healthcare PAT declines 12%, consolidated revenue up 2.7%

EBITDA stood at Rs 77.8 crore, declining 6.2 per cent year-on-year and growing 16.1 per cent sequentially

Metropolis Healthcare eyes 60% revenue from B2C business in next 2-3 years

The diagnostic player has also taken price hikes in the range of 4-5 percent in the last three years

Metropolis Healthcare net profit declines 15% to Rs 29 crore in Q1

Metropolis Healthcare on Thursday said its net profit declined 15 per cent to Rs 29 crore for the first quarter ended June 30, 2023. The diagnostics firm had reported a net profit of Rs 34 crore in the April-June quarter of the last fiscal. Revenue from operations declined to Rs 277 crore from Rs 280 crore in the year-ago period, Metropolis Healthcare said in a statement. Metropolis Healthcare Promoter and Managing Director Ameera Shah said the company remains optimistic about scaling up revenue in the upcoming quarters, indicating positive operating leverage play. "Going forward, company focuses on network expansion, increasing doctor connects, growing specialised & wellness segments and upgrading IT infrastructure for enhancing the consumer experience," she added.

AI cannot replace human knowledge: Metropolis Healthcare Promoter & MD

In 2021-22, Covid19 business was almost 20-22% of the revenue for most diagnostic companies. The non-Covid19 business is not going to grow by 22% to make it equal

Healthcare stocks rally up to 8% as Covid cases spurt in China, Japan

Reports suggest that Union Health Minister Mansukh Mandaviya will review the Covid-19 pandemic situation, in view of a spurt in COVID-19 cases in Japan, South Korea, Brazil, China and the US.

Multiple headwinds could act as margin tourniquet for diagnostics

Competitive pressures, valuations cap gains from current levels

Income Tax dept conducts searches at Metropolis Healthcare in Mumbai

The Income-tax department on Wednesday conducted searches at the premises of Mumbai-based Metropolis Healthcare that runs medical diagnostic centres as part of a tax evasion investigation, official sources said. The locations of the company in Mumbai are being covered, they said. A response from the company is awaited. The company is a prominent player in the medical tests and diagnostics business domain. It had last week reported a consolidated profit after tax of Rs 40.5 crore for the second quarter that ended September 30.

Here's why Mehul Kothari recommends buying Metropolis, Thyrocare Tech

According to the technical analyst from Anand Rathi, Metropolis Healthcare can rally to Rs 1,800, while Thyrocare Technologies can rise up to Rs 740.

Here's why Mehul Kothari recommends buying Raymond, Metropolis Healthcare

According to the technical analyst from Anand Rathi, Raymond can rally to Rs 1,100, while Metropolis Healthcare can surge to Rs 1,620.

Krsnaa Diagnostics, Metropolis hit 52-week; fall up to 14% in one month

In the past one year, these stocks have slipped between 48 per cent and 51 per cent, as compared to 3 per cent gain in the Sensex

Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah

In a Q&A, the promoter and MD of the company talks about how the dynamics are changing in the diagnostics sector post Covid, and outlines her strategy for Metropolis 3.0

No plans to exit business, says Metropolis Healthcare promoters

"The company, its promoters and management team are committed to operating Metropolis Healthcare Ltd with the highest standards of medical science, stakeholder trust and customer engagement," the comp

No plans to exit business, clarify Metropolis Healthcare promoters

Metropolis Healthcare is continuously exploring various strategic options and investment

Metropolis tanks 27% in 1-mth on promoter stake sale buzz, latter clarifies

The promoters of Metropolis Healthcare on Monday after market hours clarified that they have no intention to exit the business.

Stocks to watch: Bajaj Finance, Zydus Lifesciences, Tata Steel, Amara Raja

Stocks to watch today: Bajaj Finance has raised fixed deposit rates by up to 20 basis points; Zydus Lifesciences will open its share buyback offer on June 23 and close on July 6.

Promoters have no intention to exit business: Metropolis Healthcare

Promoters are focused on strengthening the Metropolis brand, although it continuously keeps exploring various strategic options/investment opportunities

Sensex slips 215pts amid volatility post repo rate hike; ITC, RIL weigh

The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.

Adani Group, Apollo in talks to buy a majority stake in Metropolis

Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain