I-T searches at Metropolis Path Labs office in Mumbai

The Income Tax (I-T) Department’s investigation arm is conducting searches at the Mumbai office of Metropolis Path Lab, sources told CNBC-Tv18 on November 16. More details are awaited.

Metropolis Healthcare runs one of the largest pathology lab chains in India. The stock plunged more than 5 percent in the intra-day trading on reports of the I-T searches.

The company clocked a consolidated net profit of Rs 40.48 crore in the September-ended quarter while revenue from operations stood at Rs 300.35 crore. EBITDA came in at Rs 83.37 crore down 12.98 percent from Rs 95.81 crore on a yearly basis.

In August this year, Metropolis Healthcare had announced the resignation of CEO Vijender Singh. Moneycontrol