Metropolis Healthcare Q4 Results: Profit Up 9%, Meets Estimates
Metropolis Healthcare Ltd.'s consolidated net profit increased 9.1% in the fourth quarter of financial year 2024, in line with analysts' estimates.
The company posted a profit of Rs 37 crore in the quarter-ended March, in comparison with Rs 33 crore in the year-ago period, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had estimated a profit of Rs 38 crore.
Q4 FY24 Highlights (Consolidated, YoY)Revenue up 17.2% at Rs 331 crore vs Rs 283 crore (Bloomberg Estimate: Rs 308 crore)
EBITDA up 13.8% at Rs 80 crore vs Rs 70 crore (Bloomberg Estimate: Rs 77.6 crore)
Margin at 24.2% vs 24.9% (Bloomberg Estimate: 25.20%)
Net profit up 9.1% at Rs 37 crore vs Rs 33 crore (Bloomberg Estimate: Rs 38 crore)
Core Business Revenue increased by 15% for the March quarter & 13% for the financial year-ended March 2024 on YoY basis
Core Business patient volume stood at 2.98 Mn for Q4FY24 and 11.59 Mn for FY24 with a growth of 7% & 9% respectively on YoY basis
B2C Revenue grew by 20% for Q4FY24 YoY
TruHealth Wellness & Specialized segment revenues grew by 22% & 17% respectively for Q4FY24 on YoY basis
Contribution of premium wellness stood at 15% in Q4FY24.
B2C revenue growth in Mumbai at 20% in Q4FY24 YoY
“We have consistently surpassed industry volume growth for the past eight quarters and remain optimistic about continuing this trend. Despite significant network expansion over the last two years, we achieved EBITDA margins of 25.5% in Q4 FY24," Ameera Shah, Managing Director, Metropolis Healthcare Ltd.
Looking ahead, we expect additional revenue from both existing and new networks, coupled with improved operational efficiency, to sustain our current margin levels in FY25 and further enhance our margin profile beyond FY25." Shah said
"As we progress with our Metropolis 3.0 strategy, along with organic growth via existing network and expansion. M&A will be pivotal in elevating our position. Our goal is to enhance our technical testing capabilities and enter new markets, bolstering our strengths and ensuring sustainable growth.” she added
Shares of Metropolis Healthcare closed 4.04% higher at Rs 1,915 apiece, as compared with a 0.12% advance in the benchmark Nifty 50 on Tuesday.
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