Metropolis Healthcare Limited - Q2FY24 Updates

Metropolis Healthcare Limited has given updates on the following key business parameters for the quarter ended September 30, 2023.

Company has reported a strong Q2FY24 with early double digit growth YoY for its core business (Revenue Incl. Hi-tech but Excl. Covid, Covid Allied & PPP Contracts) and also witnessed expansion in operating margins sequentially. The growth was driven by volume growth in the specialized and wellness segments, as well as B2C revenue growth.

The company also saw a reduction in competitive intensity and an increase in prices by multiple peers in the diagnostics industry. With its swift actions, strategic initiatives & network expansion strategies, the company is well-positioned to capitalize on these positive developments.

Please find below the key highlights of Q2FY24:

1. Core business (Revenue Incl. Hi-tech but Excl. Covid, Covid Allied & PPP Contracts) revenue grew by 13% Y-o-Y. Revenue growth was largely driven by volume growth demonstrating strong customer acquisition.

2. Operating margins grew Q-o-Q on account of higher revenues leading to operating leverage & product mix

3. B2C revenue grew ~15% on a Y-o-Y basis largely on the back of volume and new patient growth

4. Premium wellness segment is the fastest growing segment in Q2FY24

5. Gross Debt as on 30th September 2023 stood at ~Rs. 44 Crs.

The Quarterly Business Update is on a Consolidated basis. The Financial results of Q2FY24 is subject to review by Auditors. The Company will continue to provide the Business update for the current financial year.

This update seeks to provide an overall summary of the operating performance and demand trends witnessed during the quarter ended 30th September 2023. A detailed information update will follow once the Board approves the financial results for Q2FY24.

Shares of Metropolis Healthcare Limited was last trading in BSE at Rs. 1471.25 as compared to the previous close of Rs. 1432.00. The total number of shares traded during the day was 3138 in over 465 trades.

The stock hit an intraday high of Rs. 1475.85 and intraday low of 1435.90. The net turnover during the day was Rs. 4577703.00.

Source : Equity Bulls

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MetropolisHealthcare INE112L01020 Q2FY24 Updates