Metropolis Healthcare’s operating revenue rose to Rs 313.4 crore, up 13.1 per cent from Rs 277.1 crore reported in Q1FY24. (Representative)
Mumbai-based diagnostics major Metropolis Healthcare reported a 31.3 per cent year-on-year rise in consolidated net profit for the June quarter of financial year 2024-25 (Q1FY25) at Rs 38.1 crore, up from Rs 29 crore reported for the same period last year on the back of rising patient and test volumes.
The company’s operating income rose to Rs 313.4 crore, up 13.1 per cent from Rs 277.1 crore reported in Q1FY24.
On a sequential basis, the company’s net profit grew 4 per cent and revenue fell 5 per cent, from Rs 36.5 crore and Rs 331 crore reported in Q4FY24 respectively.
This growth is attributed to an increase in both patient volume and testing volume of 6.9 percent and 9.7 percent for the June quarter due to an increase in tests per patient, visits and network expansion.
Commenting on the results, Ameera Shah, CEO and whole-time director of Metropolis Healthcare, said the company has consistently achieved high patient volume growth over the past several quarters and remains optimistic about maintaining this momentum.
“We are confident that network expansion, increased footfall and a shift in the mix of testing will continue to help us achieve our desired growth,” he added.
In the June quarter, the company’s business-to-consumer (B2C) segment revenue grew approximately 18.4 percent year-on-year on the back of rising testing volumes and revenue per test (RPT), while Mumbai market revenue also saw 18 percent growth.
Similarly, revenue from its business-to-business (B2B) segment saw 12.4 percent year-over-year growth thanks to increased B2B engagement through a partner portal, help desk, and service differentiation through segmentation.
Metropolis’ TruHealth wellness and specialty segments also saw revenue increases of 28 percent and 17 percent, respectively.
TruHealth’s premium wellness offerings contributed 17 percent of the company’s revenue in the first quarter of fiscal year 25.
Revenue from Tier 1 cities grew by 10 percent, while Tier 3 cities saw revenue growth of 18 percent, contributing 67 percent and 25 percent to group-wide revenue respectively.
The company is currently ramping up its strategy of expanding its presence by venturing into Tier 3 and 4 cities, while focusing efforts on vital clusters in core geographies.
First published: August 11, 2024 | 1:21 PM IS
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