Profit before tax jumped 20.59% to Rs 50.53 crore in Q4 FY24 as compared with Rs 41.90 crore recorded in Q4 FY23.

EBITDA (before CSR& ESOP) stood at Rs 82.4 crore, registering the growth of 13.6% as compared with Rs 72.5 crore posted in corresponding quarter last year. EBITDA margin improved to 25.5% in Q4 FY24 as against 24.5% in Q4 FY23.

During the quarter, revenue from Core Business (excluding revenue from Covid & Covid Allied, PPP Contracts) stood at Rs 308 crore, up 15% YoY with 7% patient volume growth.

TruHealth Wellness and Specialized segment revenues grew by 22% and 17% YoY for Q4FY24 respectively.

The revenue and volume of the Premium Wellness segments experienced a 22.2% increase and a 3% increase respectively.

B2C revenues grew by 19.6% for Q4FY24 Y-o-Y with patient volume growth of 7.2% & 11.6% on account of RPP. B2C revenue in Mumbai grew by 20% on Y-o-Y basis

Ameera Shah, managing director, Metropolis Healthcare, said, “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. 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.

Over the past many years, we have been focusing on professionalizing the company and have been adding talent to our senior management team. With Surendran & the team of CXO’s, in place and delivering results, I am more confident of achieving greater heights. We believe this is an appropriate time for me to hand over the baton to Surendran & team to execute our strategies, while I will move to the position of Executive Chairperson & Whole Time Director with steady focus on driving the strategy, strengthening governance, strategizing capital allocation, acquiring talent and foster the culture at Metropolis.

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.”

Surendran Chemmenkotil, CEO, Metropolis Healthcare, said, “As we reflect on our Q4 performance, I am delighted to share our remarkable achievements, in Q4FY24, our core business revenues grew by 15% year-on-year, with volume growth of 7%+. Our B2C revenues grew by 20% y-o-y, additionally, our revenues from Mumbai market witnessed an impressive growth of 20%, highlighting our brand strength. Looking ahead, we are confident in scaling up revenue in the coming quarters, showcasing a promising trend of positive operating leverage.

Guided by our strategic vision, we have diligently focused on expanding our network, driving volume and revenue growth, and optimizing efficiency, productivity, and margins. We have expanded our footprint significantly, from around 300 towns in FY23 to surpassing 600 towns by FY24, with intentions to extend our coverage nationwide. We are reinforcing our strategy of expanding our footprints venturing into Tier 3 and Tier 4 towns, while also concentrating efforts in vital clusters across our core geographies.

Going forward with brand strength of metropolis, talent pool, trusted partners for doctors and consumers coupled with aggressive expansion plans, foray into adjacencies with opportunities of inorganic growth, we are optimistic of outnumbering in the industry growth in terms of revenue growth and profitability.”

Meanwhile, the company’s board has approved has appointed Dr. Sushil Shah as chairman Emeritus with effect from 22 May 2024.

Further, the board has approved the re-designation of Ameera Shah from managing director to chairperson & whole-time director of the company for the remainder of her term, from 22 May 2024 to 17 March 2026, subject to the approval of shareholders of the Company.

Furthermore, the company’s board has approved the acquisition of Metropolis Foundation, a Company registered under Section 8 of Companies Act, 2013, which will be exclusively engaged in carrying out Corporate Social Responsibility (‘CSR’) activities.

Furthermore, the Board has approved an extension of the timeline for Star Metropolis Health Services Middle East LLC – Dubai's liquidation process by six months.

Metropolis Healthcare is a diagnostics company, with presence in 23 states & 601 towns. Internationally, the company has presence in South Asia, Africa, and the Middle East. It offers a comprehensive range of 4,000 plus tests and profiles that include advanced tests in diagnosis of cancer, neurological disorders, infectious diseases, and an array of genetic abnormalities. The company has a network of over 199 labs, 4,150 collection centres and over 10,000 touch points.