New Delhi: Leading diagnostic service provider Metropolis Healthcare Ltd today reported a 44% growth in its consolidated net profit for the July-September quarter at ₹43 crore due to strong operational performance and a fall in tax expenses.
Tax expenses of the company declined 43% to ₹10.1 crore.
Sales of Metropolis Healthcare grew 16% to ₹223 crore, while its operating income increased by nearly a fifth to ₹63 crore.
“We have been witnessing a rapid growth in number of tests and patient visits, outpacing the industry. This is evident from the increase in revenue contribution from our retail business which reinforces patient trust and preference for Metropolis," Metropolis Healthcare managing director Ameera Shah said as per a release.
Total number of patients visiting Metropolis Healthcare’s diagnostic centres increased 16% to 2.66 million in July-September quarter from 2.29 million last year, while the total number of tests performed rose by a fifth to 5.17 million in the reporting quarter from 4.31 million last year.
The company saw growth in sales despite revenue taking a hit for approximately eight working days owing to floods in Maharashtra and Gujarat, which are major territories for the diagnostics chain, as per its investor presentation.
During the quarter, there were severe floods in central and south Gujarat, as well as certain districts of Maharashtra.
Metropolis Healthcare had 124 laboratories as of September-end, according to the company’s investor presentation.
The company is expanding its presence across the country, with a special focus on some cities like Mumbai, Bengaluru, Chennai, Surat and the National Capital Region of Delhi.