Metropolis Healthcare edges up despite 13.8% decline in Q1 net profit

Revenues from core business grew by 12% on a year-on-year basis to Rs 271 crore.

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Shares of Metropolis Healthcare gained 0.73 percent in the opening hours of on August 3, a day after the company announced its June quarter earnings.

Diagnostic service Metropolis Healthcare reported a 13.8 percent decline in consolidated profit at Rs 28.8 crore for the June quarter from last year. Revenue from operations also saw a 1 percent on-year decline to Rs 277 crore during the quarter. Revenues from core business, excluding Covid and Covid-allied tests, grew by 12 percent to Rs 271 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin also declined by around 2 percent from 24.5 percent for the same fiscal last year.

Mumbai based-Metropolis Healthcare provides a range of diagnostic services and super-specialty tests, catering to customers through over 150 labs and 2,800 collections centers, in 20 states and 61 cities.

In a February 2023 interaction with Moneycontrol, Metropolis Healthcare’s Promoter and Managing Director Ameera Shah had said that their primary focus would continue to be organic growth with the support of growing their network, customers, geography and products. Metropolis Healthcare, which is one of India’s largest healthcare diagnostic chains aims to plans to add 90 new labs and 1,800 new collection centers by FY2025.

In June 2023, Saurabh Mukherjea-led Marcellus Investment Managers announced that it had added Metropolis Healthcare to its Little Champs Portfolio. The portfolio focuses on investing in quality midcap and small cap companies for a long term. A note from Marcellus Investment Managers said, “Growth for Metropolis will be led by further additions of more specialty tests to the test basket and accelerated B2C expansion led by network expansion, investments to augment home collection and hiring of relevant talent.”