Metropolis Healthcare reports double digit growth, shares gain 2%

Q2 earnings: Core business revenue grew by 13 percent Year on Year, driven by volume growth, demonstrating strong customer acquisition.

On October 9, shares of Metropolis Healthcare opened 1.9 percent higher at Rs 1,499 on the NSE. On October 6, the company reported a strong Q2FY24 with early double digit growth YoY for its core business and also witnessed expansion in operating margins, sequentially. As of 11:15 am, the shares were trading around 2 percent higher at Rs 1,500.

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In a business update, Metropolis Healthcare said its core business revenue (Revenue including Hi-tech but excluding Covid, Covid Allied & PPP Contracts) grew by 13 percent Year on Year. This revenue growth, according to the filing, was largely driven by volume growth, demonstrating strong customer acquisition. On a quarter to quarter basis, the operating margins also grew on account of higher revenues leading to operating leverage and product mix. On a YoY basis, the B2C revenue grew around 15 percent. As of September 30, the gross debt stood at Rs 44 crore. According to the company, the premium wellness segment is the fastest growing segment in Q2FY24.

The Mumbai based healthcare firm provides a range of diagnostic services and super-speciality tests, catering to customers through over 150 labs and 2,800 collections centers, in 20 states and 61 cities. Metropolis Healthcare aims to plans to add 90 new labs and 1,800 new collection centers by FY2025.

Also read: Our focus remains on driving organic growth, says Metropolis Healthcare’s Ameera Shah

Earlier this year, in an interaction with Moneycontrol, Metropolis Healthcare’s Promoter and Managing Director Ameera Shah said their primary focus would continue to be organic growth with the support of growing their network, customers, geography and products.

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