After strong Q4 earnings, Metropolis Healthcare gains 14% and reaches a new high

Stocks In intra-day trade on Friday, Metropolis Healthcare rose 14% to Rs 2,613 on the BSE after the business announced a nearly four-fold increase in consolidated net profit to Rs 61.3 crore in the March quarter (Q4FY21), owing to strong operational performance. In the previous quarter, the firm, which is a prominent diagnostic service provider, had a profit of Rs 15.5 crore. The stock has now exceeded its previous high of Rs 2,605, which was reached on May 12, 2021.

In Q4FY21, revenue from operations increased by 42 percent year on year (YoY) to Rs 291.80 crore, up from Rs 206.10 crore the previous quarter. On the strength of growing size of company, effective cost optimization, and automation initiatives, reported EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins grew by 820 basis points (bps) YoY to 33.2 percent.

Non-Covid revenue, according to management, has continued to gain traction and has grown significantly year over year. Quarter-on-quarter (QoQ) growth in Q4FY21 remained strong. Due to the second wave of Covid-19, Covid income surged in Mar-21 after decreasing in January and February. Non-Covid businesses are projected to remain healthy as vaccination campaigns expand to reach a bigger population, they stated.

NEWS SOURCE

ALSO READ : Paytm intends to conduct India’s biggest IPO this year