Metropolis Healthcare Limited - Q1FY24 Key Business Updates

Metropolis Healthcare Limited has announced key business parameters of the Company for the quarter ended June 30, 2023:

1. Core business* revenue growth for Q1FY24 stood at ~12% on Y-o-Y basis. Total Revenue from operations for Q1FY24 stood marginally negative as compared to Q1FY23, mainly due to covid and B2G contract. It should be noted that a sizeable B2G contract was in-sourced by Government in Q4FY23.

2. For companies with larger market share in West India, Q1 is seasonally the weakest quarter due to summer holidays. Like pre-covid years, lower revenue growth in Q1 with marginal cost increase on Y-o-Y basis impacts the operating margins causing the quarter to have the lowest margin amongst all quarters in a financial year.

Q1FY24 saw seasonal impact on margins which was further accentuated by in-source of B2G business which resulted in lower margins. The company expects the margin trajectory to improve in rest of the financial year.

3. Core business* volume growth for Q1FY24 stood at ~13% on Y-o-Y basis

4. Revenue per test (Core Business1) for Q1FY24 was up by 3% on Y-o-Y basis

5. Revenue per patient (Core Business1) for Q1FY24 stood flat on account of expiration of B2G contract

6. B2C revenue growth stood at ~12% on Y-o-Y basis

7. Premium wellness segment grew by ~23% on Y-o-Y basis

8. Gross Debt as on 30th June, 2023 stood at Rs. 67 Crs.

*Excludes revenue from Covid & Covid Allied tests & PPP Contracts; including Hi-Tech The above information is on a Consolidated basis and subject to a limited review by the Management Team. The Company will continue to provide the above update at the end of every quarter for the current financial year.

Shares of Metropolis Healthcare Limited was last trading in BSE at Rs. 1436.50 as compared to the previous close of Rs. 1426.10. The total number of shares traded during the day was 7817 in over 1169 trades.

The stock hit an intraday high of Rs. 1441.05 and intraday low of 1419.70. The net turnover during the day was Rs. 11183374.00.

Source : Equity Bulls

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MetropolisHealthcare INE112L01020 HealthcareServices Q1FY24 KeyBusinessUpdates