Metropolis Healthcare posts 30% YoY decline in Q3 PAT

Metropolis Healthcare recorded a 30% decline in its consolidated net profit to Rs 41.2 crore despite a 7% increase in total operating revenue to Rs 293.1 crore in Q3 FY22 compared to Q3 FY21.

Reported EBIDTA in Q3 FY22 was Rs 76.2 crore, down 12% from Rs 86.7 crore in Q3 FY21. Reported EBIDTA margin was 26% in Q3 FY22 versus 31.5% in Q3 FY21.

Ameera Shah, Promoter and Managing Director of Metropolis Healthcare said, “During Q3FY22, we are pleased to share that we were able to increase our non-covid related revenue despite the sharp decline in volumes from a government contract. We increased our investments in digital and marketing, workforce and customer experience initiatives to strengthen our brand. This had an impact on margins, which we believe is a short-term phenomenon.

The performance of our focus cities and our B2C contribution continue to see healthy growth and reflect our efforts on the ground and the acceptance of the Metropolis brand in the minds of consumers.

We were also able to successfully complete the acquisition of Hitech Diagnostics during the third quarter, which will allow us to grow our business, improve B2C revenue contribution and tap into the value side of the market.

The company said its board declared an interim dividend of Rs 8 per share for the 2021-22 financial year.

Metropolis Healthcare is a leading diagnostic company in India with an extensive presence in 20 Indian states. Metropolis offers a full suite of over 4000 tests and profiles that include advanced tests in the diagnosis of cancer, neurological disorders, infectious diseases and a range of genetic abnormalities.

The certificate fell 1.63% to Rs 2419.95 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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