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Metropolis Healthcare shares decline after September quarter earnings miss

Metropolis Healthcare shares decline after September quarter earnings miss

Metropolis Healthcare shares decline after September quarter earnings miss
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By CNBCTV18.com Nov 9, 2022 11:14:48 AM IST (Published)

Shares of Metropolis Healthcare have corrected over 50 percent this year.

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Shares of Metropolis Healthcare Ltd, a leading diagnostic service provider, fell as much as 6 percent in trade on Wednesday after the company recorded a drop in revenue and profit for the September quarter.


The company's revenue declined 1 percent from last year due to the core Western India market underperforming. This quarter, the west contributed to 51 percent of the overall topline compared to 57 percent in the base quarter.

Net profit also declined over 30 percent from the year-ago period and missed expectations from a CNBC-TV18 poll.

However, the company recorded its highest ever non-Covid revenue during the September quarter, which increased 16 percent to Rs 288 crore.
Even as patient visits increased during the quarter, Metropolis could not generate the same amount of revenue from those patients compared to the June quarter. Revenue per Patient fell to Rs 942 from Rs 977 in the June quarter, despite patient visits increasing 13 percent.
Revenue contribution from the Wellness segment increased to 12 percent from 8 percent last year.
The company's gross debt at the end of the quarter stood at Rs 138.4 crore, which it plans to repay by the next financial year.
Shares of Metropolis Healthcare are trading 3.8 percent lower at Rs 1,659.4. The stock has more than halved this year.
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