Core business revenue (Excl. covid & covid allied, PPP contract & hi-tech) grew by 12% YoY to Rs 271 crore in Q1 FY24. Core business volume growth for Q1 FY24 was 9% on YoY basis.

EBITDA declined 6.94% to Rs 67 crore in Q1 FY24 from Rs 72 crore posted in same quarter last year. EBITDA margin stood at 24.2% in Q1 FY24 as against 25.6% in Q1 FY23.

Ameera Shah, Promoter and Managing Director, Metropolis Healthcare, said, “Total Revenues for Q1FY24 were down by 1% primarily on account of a large B2G contract insourced by Government & high base of Covid & Allied tests. Company remains optimistic about scaling up revenue in the upcoming quarters, indicating positive operating leverage play.

B2C revenue grew by 13% Y-o-Y with Mumbai revenues for B2C growing by over 15%. Metropolis has witnessed growth across test mix in B2C markets with Specialised and Wellness segments growing by 15% & 19% respectively on a Y-o-Y basis. Going forward, company focuses on network expansion, increasing doctor connects, growing specialised & wellness segments and upgrading IT infrastructure for enhancing the consumer experience.”

Metropolis Healthcare is a diagnostics company, with presence in 20 states & 220 cities. 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 180 labs, 3,730 collection centres and over 10,000 touch points.

The scrip rose 1.53% to Rs 1,390.10 on the BSE.