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Metropolis Healthcare Results: Latest Quarterly Results & Analysis

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Metropolis Healthcare Ltd. 05 Nov 2025 12:21 PM
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Q2FY26 Quarterly Result Announced for Metropolis Healthcare Ltd.

Healthcare Services company Metropolis Healthcare announced Q2FY26 results

  • Revenue: Rs 429 crore for Q2FY26, change 23% YoY.
  • EBITDA: Rs 109 crore for Q2FY26, change 19% YoY.
  • PAT: Rs 53 crore for Q2FY26, change 13% YoY.

Ameera Shah, Promoter & Executive Chairperson, Metropolis Healthcare, said: “We've demonstrated that consistent growth and quality can go hand in hand. The swift turnaround of Core Diagnostics and the strong performance of our recent acquisitions in Dehradun and Agra reaffirm the strength of our integration strategy and our ability to create sustainable value through local excellence. As we advance genomics and AI-enabled innovation alongside digital transformation, we’re driving rapid adoption that expands access to quality diagnostics and accelerates the sector’s shift from unorganised to organised players. Our focus remains on shaping a future-ready Metropolis — a trusted, science-led organisation that sets new benchmarks for quality, care, and value creation.”

Surendran Chemmenkotil, Managing Director, Metropolis Healthcare, said: "We delivered consistent results this quarter, in line with our guidance, even as lower incidence of vector-borne diseases impacted seasonal demand. Our focus on execution excellence, productivity enhancement, and operational optimisation helped sustain growth momentum and deliver YoY margin expansion in H1. We continue to deepen our presence across the 750 towns we serve, with sharper penetration in Tier 2 and Tier 3 markets, supported by a strong product portfolio and productivity-enhancing initiatives in the network. We remain confident of achieving our stated growth and profitability targets for the rest of the year."

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Healthcare Services Stores company Metropolis Healthcare announced Q1FY26 results

  • Revenue: Rs 386 crore, change 23% YoY.
  • PAT: Rs 45 crore, change 19% YoY.

Ameera Shah, Promoter & Executive Chairperson, Metropolis Healthcare, said: “Rising health awareness is fuelling demand for advanced diagnostics across prevention, wellness, and complex illness detection. These trends are expanding the formal diagnostics market and creating a broader revenue opportunities across industry players. Encouragingly, the market is stabilizing, with reduced pricing pressures and a stronger focus on clinical quality and trust.

At Metropolis, we continue to focus on high-value and complex testing, where accuracy, scientific excellence, and deep domain expertise are critical. Our recent acquisitions have strengthened our presence in specialised diagnostics, opening up premium growth opportunities and enhancing revenue quality. With sustained investments in Specialty Diagnostics, Genomics, and our Centers of Excellence, we are building a differentiated and future-ready healthcare enterprise that is wellpositioned for long-term value creation.”

Surendran Chemmenkotil, Managing Director, Metropolis Healthcare, said: “We’ve begun FY26 on a strong footing, delivering 23% growth in overall revenue and a 19% increase in PAT. This growth has been driven by healthy organic momentum in our core business, supported by rising patient volumes, a stronger test mix, and improved realizations.

Our disciplined execution, strong cost management, and sharper commercial focus are yielding tangible results. With a comprehensive test menu and a pan-India network, we are now seeing operational efficiencies driven by our own automation and process improvements. As we move forward, our priority remains consistent execution—enhancing service quality, scaling operations effectively, and delivering sustainable, profitable growth.”

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Healthcare Services company Metropolis Healthcare announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Metropolis records revenue of Rs 345 crore in Q4FY25.
  • B2C revenues saw a robust 14% YoY growth in Q4FY25.
  • B2B revenue grew 10% YoY in Q4FY25
  • Adjusted EBITDA: Rs 84 crore in Q4FY25 vs. Rs 80 crore in Q4FY24 — up 5%
  • Profit After Tax (PAT): Rs 29 crore in Q4FY25 vs. Rs 36 crore in Q4FY24 — down 19%

FY25 Financial Highlights:

  • Metropolis records revenue of Rs 1,331 crore in FY25
  • Patient volume grew by 6% YoY and Test Volume grew by 7%, in FY25
  • B2C revenues saw a robust 17% YoY growth in FY25
  • B2B revenue grew 12% YoY in FY25
  • Adjusted EBITDA: Rs 325 crore in FY25 vs. Rs 285 crore in FY24 — up 14%
  • Profit After Tax (PAT): Rs 146 crore in FY25 vs. Rs 128 crore in FY24 — up 14%
  • Expanded to 750 towns in FY25 with addition of 29 new labs and 400 centres in FY25, enhancing last-mile access.

Ameera Shah, Executive Chairperson & Whole-time Director, Metropolis Healthcare said, “Over the past four years, Metropolis has built a resilient, future-ready organization through strategic investments in laboratories, network expansion, brand, technology, and talent. Despite a challenging environment, we have strengthened our scientific leadership, enhanced customer engagement, and driving operational excellence.

We are confident that our recent acquisitions — Core Diagnostics, Scientific Pathology, and Dr. Ahuja’s Pathology & Imaging Centre — will generate strong returns and fuel the next phase of growth. These acquisitions reinforce our leadership in specialty testing, expand our B2C footprint, and strengthen our regional presence in North India. With a robust foundation, a differentiated portfolio in high-growth segments, and a deeper penetration across key regions, Metropolis is well positioned to capitalize on emerging opportunities and drive long-term stakeholder value."

Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare said, “FY25 has been a pivotal year in our journey toward becoming a more consumer-centric and digitally enabled diagnostics brand. Our growth was fuelled by rising demand for preventive and specialized testing, enabled by focused execution, stronger clinician engagement, and meaningful innovation. We introduced industry-first cancer screening panels and tools, along with AI-powered diagnostics to enhance accuracy and enable early detection. Our proprietary engine, MetAdvisor, uses historical data to deliver personalized, science-led test recommendations—boosting TruHealth performance.

As we look ahead, our focus is on strengthening our presence in key cities, expanding digital access, and advancing evidence-based preventive care. With science at the heart of our efforts, we aim to make quality diagnostics more accessible, reliable, and impactful for the communities we serve.”

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Healthcare Services company Metropolis Healthcare announced Q3FY25 results

  • Revenue: Rs 323 crore compared to Rs 291 crore during Q3FY24, change 10.9%.
  • EBITDA: Rs 72 crore compared to Rs 66 crore during Q3FY24, change 9.4%.
  • EBITDA margin: 22.20% for Q3FY25.
  • PAT: Rs 31 crore compared to Rs 27 crore during Q3FY24, change 15.3%.
  • PAT margin: 9.8% for Q3FY25.

Ameera Shah, Executive Chairperson & Whole-time Director, Metropolis Healthcare, said: “The diagnostics industry is undergoing a paradigm shift towards personalized medicine, genomics-driven testing, and preventive healthcare, fueled by advancements in molecular diagnostics, AI, and nextgeneration sequencing. At Metropolis, we remain at the forefront of this transformation, leveraging deep scientific expertise and consumer insights to drive innovation and expand access to cutting-edge diagnostics.

Our strategic acquisition of Core Diagnostics is a pivotal step in this direction, strengthening our oncology and molecular diagnostics portfolio and reinforcing our commitment to becoming India’s leading cancer testing provider. As part of our long-term strategy, we are expanding our presence in North India through a ‘string of pearls’ approach, focusing on acquiring high-performing B2C businesses that are leaders in their cities, with strong EBITDA, ROCE, and cash flows. This strategy will enhance our capabilities and deepen our footprint in the region, driving long-term value creation and solidifying Metropolis’ leadership in the evolving diagnostics landscape."

Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare, said: “We have achieved double-digit growth for the third consecutive quarter, despite a traditionally challenging Q3 with lower illness-driven demand. This success stems from our focus on key segments, TruHealth and Specialty, and our efforts to drive regional growth through targeted micro-marketing strategies and deeper market penetration. Through TruHealth™ packages, we have been able to enhance the customer experience by integrating home-based ECG services, vital checks, and consultations. Additionally, the introduction of AI-powered MetAdvisor recommendation engine further personalises care by analysing historical data and test combinations.

With strong partnerships and an expanding network, we remain committed to addressing regional healthcare needs and driving sustainable growth. Our continued investments in technology and service excellence will deliver lasting value to customers and stakeholders.

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Healthcare Services company Metropolis Healthcare announced Q1FY25 results:

  • Revenue from Operations stood at Rs 313.4 crore, a growth of 13.1% YoY basis, well within our guided range of 13-15%.
  • Growth in patient volumes and test volumes stood at 7% and 10%, respectively for the quarter. Increase in Revenue Per Patient by 6%.
  • Reported EBITDA stood at Rs 78.2 crore, with a growth of 21.2% YoY. 
  • Profit after Tax (PAT) stood at Rs 38.1 crore with a growth of 31.3% YoY, margins at 12.2%, up from 10.5% for Q1FY24, up by 170 bps YoY.

Ameera Shah, Executive Chairperson and Whole-time Director, Metropolis Healthcare said: "I am pleased to share that we have made considerable progress in the first quarter of FY 2025 with 13.1% growth, which is higher than the industry average. We have consistently achieved high growth in patient volume over the last several quarters and remain optimistic about maintaining this momentum. Our TruHealth (Wellness and Bundling) segment grew by 28% this quarter, which has helped us move the customers up the value chain, resulting in an increase in revenue per patient. We are confident that network expansion, increased footfalls, and a shift in test mix will continue to help us achieve our desired growth"

Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare said: “Our EBITDA and PAT growth have outpaced revenue growth, driven by our focus on TruHealth wellness and bundling packages, Specialty segments, network expansion, and operational efficiencies. B2C revenue grew by 18.4%, contributing 54% of our total revenues. Our network expansion has driven a 18% revenue increase, particularly from Tier III markets, which now account for over 23% of our total revenues. We are present in over 650 towns across India and will continue to focus on growth in B2C, B2B channels, and Tier II and III towns. Looking ahead, we will leverage our brand strength, digital and AI initiatives, talented team, and trusted partnerships to drive aggressive expansion and sustainable growth, creating value for our shareholders."

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Healthcare Services company Metropolis Healthcare announced Q4FY24 & FY24 results:

  • Core Business Revenue increased by 15% for Q4FY24 & 13% for FY24 on YoY basis
  • Core Business patient volume stood at 2.98 million for Q4FY24 and 11.59 million for FY24 with a growth of 7% & 9% respectively on YoY basis
  • B2C Revenue grew by 20% for Q4FY24 YoY
  • TruHealth Wellness & Specialized segment revenues grew by 22% & 17% respectively for Q4FY24 on YoY basis
  • Reported EBITDA stood at 25.5% for Q4FY24. EBITDA before CSR & ESOP stood at 26.4%.
  • Contribution of premium wellness stood at 15% in Q4FY24.
  • B2C revenue growth in Mumbai at 20% in Q4FY24 YoY.

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."

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Metropolis Healthcare announced Q1FY24 results:

  • Core business revenue growth stood at Rs 271 crore, up 12% YoY with 9% volume growth & 3% RPT growth
  • Core business patients stood at 2.7 million with a growth of 9% YoY
  • Total B2C revenue in grew by 13% for Q1FY24 YoY with volume growth of 9%
  • EBIDTA before network expansion stood at 25.3%
  • Premium wellness segments revenue grew by 27% & volumes grew by 38% indicating strong brand equity & consumer trust on Metropolis.
  • Contribution of premium wellness stood at 15%
  • B2C revenue growth in Mumbai stood at 15% on account of our strong brand presence & dense network

“In Q1FY24, the core business revenues grew by 12% YoY, reflecting a consistent trend of double-digit growth over the past five quarters for its core revenues. Total Revenues for Q1FY24 were down by 1% primarily on account of a large B2G contract insourced by the Government & a high base of Covid & Allied tests. The company remains optimistic about scaling up revenue in the upcoming quarters, indicating positive operating leverage play.

B2C revenue grew by 13% YoY with Mumbai revenues for B2C growing by over 15%. Metropolis has witnessed growth across the test mix in B2C markets with Specialised and Wellness segments growing by 15% & 19% respectively on a YoY basis.

Going forward, the company focuses on network expansion, increasing doctor connections, growing specialised & wellness segments, and upgrading IT infrastructure to enhance the consumer experience. We firmly believe that Metropolis is in an advantageous position to achieve a higher market share across various geographies and surpass industry growth", said Ameera Shah, Promoter and Managing Director, Metropolis Healthcare.

 

 

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Metropolis Healthcare announced Q4FY23 & FY23 results:

  • Core Business Revenue (Excl. Covid & Covid Allied, PPP Contract & Hi-tech) growth stood at Rs 245 crore up 15% for Q4FY23 & 15% for FY23 on YoY basis
  • Profit after Tax at Rs 33.5 crore
  • Core Business Volume growth for Q4FY23 stood at 15% & 13% for FY23 on YoY basis
  • EBIDTA before Network Expansion for Q4FY23 stood 26.9%
  • Premium Wellness segments grew by 43% for Q4FY23 & by 45% for FY23 indicating strong Brand Equity Consumer’s Trust on Metropolis Brand. Contribution of premium wellness stood at 15% of the non-covid revenues
  • Non-Covid Revenue from North grew by ~30% for Q4FY23 on YoY basis
  • B2C revenue growth for Q4FY23 in Mumbai grew by 18% & Pune grew 23% on account of our strong brand presence & dense network
  • B2C revenue for Q4FY23 in other cities grew by 30% indicating our strong execution & penetration in the newer geographies

“Our Core business revenue grew by 15% for Q4FY23 & FY23 on YoY basis. We have been witnessing continuous uptick in our core business revenues over the last 4 quarters with volumes growing across markets. Our revenues from North grew by ~30% for Q4FY23 strengthening our presence in non-core geographies & expanding our reach on Pan-India basis.

Revenue contribution from our premium wellness segment increased to 15% in Q4FY23 & witnessed a healthy growth of 43% YoY, a testimony to our on-ground efforts and the acceptance of Metropolis Brand in the minds of consumers.

Going forward, we focus on our network expansion, growing our specialised & wellness segments and upgrading our IT infrastructure for enhancing the consumer experience.

We believe Metropolis is rightly placed to attain higher market share across geographies & outperform the industry growth." Commented Ameera Shah, Promoter and Managing Director, Metropolis Healthcare Ltd

 

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Metropolis Healthcare announced Q3FY23 results:

  • Q3FY23 & 9MFY23:
    • Non-Covid growth stood at 13% for Q3FY23 & 15% for 9MFY23 on YoY basis (excl. revenues for PPP Contracts & Hi-tech acquisition)
    • Volume growth for Q3FY23 stood at 10% & RPP growth stood at 3% on a YoY basis (excl. volumes for PPP Contracts & Hi-tech acquisition)
    • Operating EBIDTA for Q3FY23 stood at 28.3%, dilution of ~120 bps on account of Lab addition & Network expansion. New Network has contributed ~3% of Revenues for Q3FY23. EBIDTA margin (before CSR & ESOP) stood at 27.1%
    • Revenue from North & East combined grew by 29% for Q3FY23 on a YoY basis
    • Revenue growth for B2C in focus cities stood at 16% for Q3FY23 & 25% for 9MFY23 on a YoY basis; Mumbai & Pune are growing at a faster pace indicating our strength & market share penetration in the core geographies
    • Our Specialized & Wellness segments are the fastest growing segment for Q3FY23 indicating strong Brand Equity & Doctor’s Trust in Metropolis Brand
    • The board has declared an interim dividend of Rs 8 per equity share of Face value of Rs 2 each to equity shareholders of the company.

“We are delighted to report 20% YoY growth in Non-Covid revenues for Q3FY23. We have delivered consistent growth in Non-Covid revenues for the last 4 quarters on the back of strong on-ground execution, our scientific approach to diagnostics, and the steady industry shift of volumes from unorganised sector to organised sector.

The growth was across parameters – volume, core geographies, non-Core geographies, wellness segments thus indicating the brand equity & quality of services across the country. Revenues for North & East grew ~29% YoY in Q3FY23. We remain confident of sustaining this growth going forward. Revenue contribution from wellness segment increased to 13% in Q3FY23 & witnessed a healthy growth of 30% YoY.

Metropolis is a diagnostic specialist and our strategy of faster growth in Specialised & wellness segment continues to remain on track.” Ameera Shah, Promoter and Managing Director, Metropolis Healthcare Ltd.

 

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Metropolis Healthcare announced Q2FY23 results:

  • Q2FY23:
    • Wellness revenue increased by 40% YoY to Rs. 33 crore
    • EBITDA margin at Rs. 83 crore (Before CSR & ESOP) stood at 27.6%
    • Specialized tests contributed 40% to the Non-Covid revenue
    • Total Revenues grew by 12.4% YoY
    • Specialized tests revenues grew by 15% YoY
    • Wellness tests revenues grew by 36% YoY
    • Patient & Tests volumes grew by 10% YoY
    • Rs. 41 crore Profit After Tax
    • Rs. 83 crore EBITDA
    • Rs. 288 crore Covid Revenue

Ameera Shah, Promoter and Managing Director, Metropolis Healthcare Ltd, said: “I am extremely pleased to share that we have recorded highest ever quarterly revenue with 16% growth on year-on-year basis. With accelerated shift from the unorganised to the organised sector coupled with increased health awareness amongst customers and a trusted scientific image with medical fraternity, we expect the revenues growth to improve and margins to sustain at the precovid levels

We have seen growth in our volumes & patient count and with increased investments in digital & marketing, manpower & customer experience initiatives, we are optimistic of sustaining the growth going forward.

Our revenue contribution from wellness segment has increased to 12% in Q2FY23 & has witnessed a healthy growth of 40% on YoY basis; a testimony to our on-ground efforts and the acceptance of Metropolis Brand in the minds of consumers and medical fraternity."

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