Metropolis Healthcare

Reports suggest that Union Health Minister Mansukh Mandaviya will review the Covid-19 pandemic situation, in view of a spurt in COVID-19 cases in Japan, South Korea, Brazil, China and the US.

Competitive pressures, valuations cap gains from current levels

The Income-tax department on Wednesday conducted searches at the premises of Mumbai-based Metropolis Healthcare that runs medical diagnostic centres as part of a tax evasion investigation, official sources said. The locations of the company in Mumbai are being covered, they said. A response from the company is awaited. The company is a prominent player in the medical tests and diagnostics business domain. It had last week reported a consolidated profit after tax of Rs 40.5 crore for the second quarter that ended September 30.

According to the technical analyst from Anand Rathi, Metropolis Healthcare can rally to Rs 1,800, while Thyrocare Technologies can rise up to Rs 740.

According to the technical analyst from Anand Rathi, Raymond can rally to Rs 1,100, while Metropolis Healthcare can surge to Rs 1,620.

In the past one year, these stocks have slipped between 48 per cent and 51 per cent, as compared to 3 per cent gain in the Sensex

In a Q&A, the promoter and MD of the company talks about how the dynamics are changing in the diagnostics sector post Covid, and outlines her strategy for Metropolis 3.0

"The company, its promoters and management team are committed to operating Metropolis Healthcare Ltd with the highest standards of medical science, stakeholder trust and customer engagement," the comp

Metropolis Healthcare is continuously exploring various strategic options and investment

The promoters of Metropolis Healthcare on Monday after market hours clarified that they have no intention to exit the business.

Stocks to watch today: Bajaj Finance has raised fixed deposit rates by up to 20 basis points; Zydus Lifesciences will open its share buyback offer on June 23 and close on July 6.

Promoters are focused on strengthening the Metropolis brand, although it continuously keeps exploring various strategic options/investment opportunities

The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.

Adani and Apollo's deal with Metropolis could be at least worth $1 billion or Rs 7,765 crore, given the market captalisation of the diagnostic chain

CLOSING BELL: The broader markets, meanwhile, bled more with the BSE SmallCap index sliding nearly 3 per cent, and the BSE MidCap index falling close to 2 per cent

Stocks to Watch Today: Sugar and FMCG stocks likely to be in focus as govt limits sugar exports and exempts customs duty on agri cess. Apollo Hospitals, Bata, Coal India and Nalco to report results.

Metropolis runs more than 3,000 diagnostics centers as well as pathology laboratories in India and Africa

The company is planning to add around 40 more Hitech centres during the current financial year

In Q4FY22, the company expects better profitability on account of higher QoQ volumes from large government contract and benefits of investments in digitization and marketing.

Metropolis Healthcare on Friday said its net profit declined 29.69 per cent to Rs 41.2 crore for the third quarter ended December 31, 2021. The diagnostics chain had reported a net profit of Rs 58.6 core in the same period of previous fiscal. Revenues, however, increased to Rs 293.1 crore in the period under review as against Rs 274.7 crore in the same period of 2020-21 fiscal, Metropolis Healthcare said in a statement. "We have been able to grow our non-COVID revenue despite a sharp drop in volumes from a government contract. We have made increased investments in digital and marketing, manpower & customer experience initiatives in order to strengthen our brand. This has impacted margins which we believe is a short-term phenomenon," Metropolis Healthcare Promoter and Managing Director Ameera Shah noted. The company has been able to successfully complete the acquisition of Hitech Diagnostics during the third quarter which will enable it to scale up business, improve the B2C revenue