Q3FY24: Metropolis’ core-revenue growth at Rs. 286 cr; up by 12% YoY

Metropolis Healthcare Ltd. announced its unaudited consolidated financial results for the third quarter of financial year 2024.

Q3FY24 financial highlights

“We continue to make positive strides in strengthening the business. Our strategic actions are yielding results and visible in our performance with B2C contribution of 53% and Specialized Tests contributing 38% of our core business revenues. I am happy to state that we have rolled out multiple Digital transformation projects which should increase operational efficiencies and improve the overall stakeholder experience.

Looking ahead, our focus on the Metropolis 3.0 Strategy persists: expanding our network, strengthening doctor connections, fostering specialized and wellness segments, and upgrading IT infrastructure for an enhanced consumer experience. At Metropolis, we are committed to these decisive steps, poised for continued success and value delivery.

Ameera Shah, Promoter and Managing Director, Metropolis Healthcare Ltd.
“In Q3FY24, the core business revenues grew by 12% Y-o-Y, reflecting a consistent trend of double-digit growth over the past seven quarters for our core revenues. Notably, 9% of this growth is attributed to the patient volume growth, while 3% is on account of better product mix. The performance in Q3 was marginally impacted on account of heavy rainfall & floods in Chennai and adjacent areas in December 2023, leading to loss of revenues for approx. 7-8 days from Chennai region, which is one of the focus cities for Metropolis.

In 9MFY24, we have increased presence from 307 towns to 595 towns, added 17 labs and ~450 centers with a strategy of penetrating deeper into the existing markets with focus on B2C business and B2B speciality business for newer geographies as an entry point into these markets. With our fast-paced lab expansion strategy, widest test menu coupled with D2C initiatives, we are optimistic of scaling up revenues & margins in the coming quarters.

Surendran Chemmenkotil, CEO, Metropolis Healthcare Ltd.

MB Bureau