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ICICI Securities Report
Metropolis Healthcare Ltd. provided a business update for Q2 FY21 and mentioned that it was able to achieve normalcy in its ex-Covid-19 business in September 2020 vis-a-vis September 2019.
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Company achieved normalcy faster than anticipated as easing of lockdown restrictions aided business recovery.
For the quarter, ex-Covid business has reached approximately 85% of last year's level (approximately 71% in Q1 FY21).
Volumes would continue to improve in H2 FY21 but we expect realisation to decline with falling prices for Covid-19 test as well as reducing proportion of Covid-19 test in the overall business.
Aggressive network expansion with B2C focus over the past few years would help Metropolis to improve volume growth going forward.
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