Metropolis Healthcare on Tuesday recorded fiscal fourth quarter profit at Rs 36.53 crore, up 9.1 per cent in comparison to Rs 33.49 crore during the corresponding quarter of previous fiscal year. It posted revenue from operations at Rs 331.00 crore, up 17.1 per cent as against Rs 282.55 reported during the fourth quarter of FY23. The company EBITDA stood at Rs 80 crore, up 14 per cent on-year.
While the total income recorded by the company during the quarter in review was at Rs 333.54 crore, total expenses incurred by Metropolis Healthcare during Q4FY24 stood at Rs 283.01 crore.
Metropolis Healthcare said that its core business revenue increased by 15 per cent for Q4FY24 and by 13 per cent for FY24 on YoY basis. Meanwhile, core business patient volume stood at 2.98 million for Q4FY24 with a growth of 7 per cent on-year; and it was at 11.59 million for FY24, recording a growth of 9 per cent on YoY basis.
Ameera Shah, Managing Director, Metropolis Healthcare Ltd, 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 per cent 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.”
Team restructuring at Metropolis Healthcare
The Board of Directors of the company appointed Dr Sushil Shah as Chairman Emeritus w.e.f. May 22, 2024. Dr Sushil Shah is re-designated from the position of ‘Whole-Time Director’ to ‘Non-Executive Non-Independent Director’ of the Company effective from the date of shareholders’ approval in the ensuing general meeting.
The board also appointed Dr Aparna Rajadhyaksha as an additional director in the capacity of ‘Non-Executive Non-Independent Director’ w.e.f. May 22, 2024.
Further, Ameera Shah is re-designated from ‘Managing Director’ to ‘Chairperson & Whole-Time Director’ of the company for the remainder of her term, from May 22, 2024 to March 17, 2026.
“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,” said Ameera Shah.