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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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