Metropolis Healthcare said that its core business revenue (excluding revenue from COVID-19, covid allied tests & PPP contracts) jumped approximately 15% YoY in Q4 of FY24.
During the period under review, the company’s revenue growth in core business was largely driven by volume growth, which stood at 8%.
The healthcare service provider reported a 7% increase in RPP growth for Q4 FY24, which was largely driven by growth in the specialty tests segment, premium wellness segment, and price increase.
Despite the prolonged holiday period, especially in March 2024, the company experienced around a 10% YoY increase in overall revenue, alongside mid-teen YoY growth in revenue for its core business, maintaining a consistent rise in sales volumes across various segments.
The company’s B2C revenues jumped 18% YoY in Q4FY24. Investments made in expanding the network, acquiring talent, upgrading information technology, and refining processes are proving fruitful, as shown by the rise in sales volumes across both the B2C and B2B sectors.
EBIDTA Margins for Q4FY24 show a consistent upward trend both quarter-over-quarter and year-over-year. This boost in margin can be attributed mainly to the surge in volumes and implemented price increases.
During the current quarter, the company has repaid its debt, resulting in a debt-free status as of 31 March 2024.
Competition intensity has been easing over the past 6 to 12 months, particularly as new industry entrants prioritize unit economics and profitability over deep discounting strategies. However, competition remains moderate in specific pockets of metropolitan markets, particularly within the B2B segment. Despite this competitive environment, the company has enhanced its market share in its core geographies and is successfully expanding its presence in newer territories with an aggressive lab and network expansion strategy, the company stated in the regulatory filing.
Metropolis Healthcare is a diagnostics company, with a presence in 20 states & 220 cities. Internationally, the company has a presence in South Asia, Africa, and the Middle East. It offers a comprehensive range of 4,000 plus tests and profiles that include advanced tests in the diagnosis of cancer, neurological disorders, infectious diseases, and an array of genetic abnormalities. The company has a network of over 192 labs, 4,127 collection centers, and over 10,000 touchpoints.
Metropolis Healthcare reported a 23.93% decline in consolidated net profit to Rs 27.28 crore in Q3 FY24 as compared with Rs 35.86 crore in Q3 FY23. Revenue from operations rose 1.98% YoY to Rs 391.11 crore in Q3 FY24.
The article originally appeared on Business Standard.