The diagnostic company's consolidated net profit declined 12.8% to Rs 35.80 crore on 2.6% decrease in revenue from operations to Rs 285.46 crore in Q3 FY23 over Q3 FY22.
The company said that the PAT was impacted due to higher finance cost on account of Hi-Tech Acquisition & higher depreciation on account of Investments done to fuel the future growth engines.
Profit before tax in Q3 FY23 was at Rs 47.97 crore, down 14.5% as against Rs 56.09 crore reported in the same period last year.
Reported EBIDTA declined 4.6% to Rs 72.7 crore in the third quarter from Rs 76.2 crore posted in Q3 FY22. EBIDTA margin reduced to 25.5% in Q3 FY23 as compared to 26% reported in Q3 FY22. EBIDTA margins were impacted due to company's investments in building the network expansions of lab & centers, said the company.
Non-COVID revenues grew 20% year on year to Rs 278 crore in the quarter ended 31 December 2022. Patient visits jumped 15.7% to 2.9 million in Q3 FY22 from 2.5 million reported in Q3 FY22. The number of tests rose 13.5% year on year to 25.7 million in Q3 FY22.
The company's revenue per patient has increased by 3.6% for Q3 FY23 on YoY basis, on the back of higher specialised testing & stability in its pricing strategy.
During the quarter, total B2C revenue in focus cities grew by 16% YoY and revenue from North & East combined rose 29% YoY.
Ameera Shah, promoter and managing director of Metropolis Healthcare, We are delighted to report 20% YoY growth in Non-Covid revenues for Q3FY23. We have delivered consistent growth in Non-Covid revenues for the last 4 quarters on the back of a strong on-ground execution, our scientific approach to diagnostics and steady industry shift of volumes from unorganised sector to organised sector.
The growth was across parameters - volume, core geographies, non-core geographies, wellness segments thus indicating the brand equity & quality of services across the country. Revenues for North & East grew around 29% YoY in Q3FY23. We remain confident of sustaining this growth going forward. Revenue contribution from wellness segment increased to 13% in Q3FY23 & witnessed a healthy growth of 30% YoY.
Meanwhile, the company's board has declared an interim dividend Rs 8 per equity share for the financial year 2022-23. The record date for the same is fixed on Thursday, 23 February 2023 and the dividend will be paid to the shareholders within 30 days of declaration.
Metropolis Healthcare is engaged in the business of providing pathology and related healthcare services.
Shares of Metropolis Healthcare gained 2.37% to Rs 1,313 on the BSE.
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