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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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