Patient influx, test volumes raise Metropolis Healthcare’s profit by 31%
Metropolis Healthcare’s revenue from operation rose to Rs 313.4 crore, up 13.1 per cent from Rs 277.1 crore reported in Q1FY24. (Representational)
Mumbai-based diagnostics major Metropolis Healthcare reported a 31.3 per cent year-on-year (Y-o-Y) increase in consolidated net profit for the June quarter of financial year 2024-25 (Q1FY25) at Rs 38.1 crore, up from Rs 29 crore reported for the same period last year on increased patient and test volumes.
The company’s revenue from operation rose to Rs 313.4 crore, up 13.1 per cent from Rs 277.1 crore reported in Q1FY24.
On a sequential basis, the company’s net profit grew by 4 per cent and revenue dropped by 5 per cent, from Rs 36.5 crore and Rs 331 crore reported in Q4FY24 respectively.
This growth is being attributed to an increase in both patient volumes and test volume by 6.9 per cent and 9.7 per cent for the June quarter on an increase in test per patient, footfalls, and network expansion.
Commenting on the results, Ameera Shah, Executive Chairperson and Whole-time Director, Metropolis Healthcare, said that the company has consistently achieved high growth in patient volume over the last several quarters and remains optimistic about maintaining this momentum.
“We are confident that network expansion, increased footfalls, and a shift in test mix will continue to help us achieve our desired growth”, she added.
In the June quarter, the company’s business-to-consumers (B2C) segment revenues grew by approximately 18.4 per cent Y-o-Y on rise in test volumes and revenue per test (RPT), while revenues from the Mumbai market also saw 18 per cent growth.
Similarly, revenue for its business-to-business (B2B) segment saw a 12.4 per cent Y-o-Y growth on higher B2B Engagement via a partner portal, helpdesk, and service differentiation through segmentation.
Metropolis’s TruHealth’s Wellness and specialty segments also witnessed revenue increases of 28 per cent and 17 per cent, respectively.
TruHealth’s premium wellness offerings contributed 17 per cent of the company’s revenue in Q1FY25.
Revenue from Tier 1 cities grew by 10 per cent, while Tier 3 cities saw a revenue growth of 18 per cent, contributing 67 per cent and 25 per cent to the entire group’s revenue respectively.
The company is currently reinforcing its strategy of expanding its footprint by venturing into Tier 3 and Tier 4 towns, while also concentrating efforts in vital clusters across core geographies.
First Published: Aug 11 2024 | 1:21 PM IST