Metropolis Healthcare stock jumps over 4% as company announces 10% rise in revenues for Q4FY2024
Upstox
2 min read • Updated: April 12, 2024, 11:13 AM
Summary
The firm said that despite the prolonged holiday period, especially in March 2024, it experienced close to 10% year-over-year (y-o-y) increase in overall revenue, alongside mid-teen y-o-y growth in revenue for its core business, maintaining a consistent rise in sales volumes across various segments.
Metropolis Healthcare shares jumped over 4% on Friday morning after the company announced a 10% rise in its revenues for the fourth quarter of fiscal year 2024.
The firm said that despite the prolonged holiday period, especially in March 2024, it experienced close to 10% year-over-year (y-o-y) increase in overall revenue, alongside mid-teen y-o-y growth in revenue for its core business, maintaining a consistent rise in sales volumes across various segments.
Core business revenue remains strong
Core business revenue grew approximately 15% y-o-y during the quarter and was driven by volume growth of about 8%, it said. Business-to-consumer (B2C) revenues grew nearly 18% y-o-y for the fourth quarter of FY24. The company said it has repaid debt, attaining a debt-free status as of March 31, 2024.
Expansion strategies are bearing fruits
Metropolis indicated that investments made in expanding the network, acquiring talent, upgrading information technology, and refining processes are proving fruitful, as shown by the rise in sales volumes across both the B2C and business-to-business (B2B) sectors.
Earnings before interest, tax, depreciation and amortisation (EBITDA) margins for the fourth quarter show a consistent upward trend both quarter-over-quarter and year-over-year, the company stated. This boost in margin can be attributed mainly to the surge in volumes and implemented price increase, it pointed out.
During the third quarter, the company saw its core business revenues grow by 12% while recording a 9% patient volume growth. B2C revenues grew by 15% while B2B revenues grew by 7% for the quarter. Meanwhile, B2C premium wellness revenue grew at 15% y-o-y with test volume growth of 11% y-o-y, it said.
Metropolis had witnessed a 10% drop in its EBITDA during the quarter and saw a 24% fall in its net profits to ₹27.3 crore. During the period, the company opened 193 centres and five labs.
Shares of the company have gained over 12% since the beginning of the year. The stock has risen over 45% in the last one year.