Metropolis Healthcare reports 15% growth in core revenue in Q4FY24

New Delhi: Metropolis Healthcare Ltd. showcased a remarkable 15% growth in core revenue to Rs. 308 crores in its audited consolidated financial results for Q4FY24. The company’s core business revenue surged by 13% for the entire fiscal year compared to the previous year, indicating sustained growth. 

Patient volume within the core business reached 2.98 million for Q4FY24 and 11.59 million for FY24, demonstrating growth rates of 7% and 9%, respectively, year-on-year. Notably, B2C revenue experienced a significant 20% growth in Q4FY24 year-on-year, underscoring the company’s strong market presence and consumer demand. 

Reported EBITDA stood at 25.5% for Q4FY24, with EBITDA before CSR & ESOP reaching 26.4%. The profit after tax stood at Rs. 36.1 crores, up by 8% year-on-year.

Additionally, TruHealth Wellness & Specialized segment revenues witnessed impressive growth rates of 22% and 17%, respectively, for Q4FY24 compared to the previous year. Furthermore, the contribution of premium wellness accounted for 15% in Q4FY24, highlighting the company’s diversified revenue streams. In the Mumbai market, B2C revenue grew by a notable 20% in Q4FY24 year-on-year, reflecting strong regional performance. 

Ameera Shah, Managing Director of Metropolis Healthcare Ltd. stated, “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.”

Surendran Chemmenkotil, CEO of Metropolis Healthcare Ltd., emphasized, “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. Margins.” 

He added, “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.”