Metropolis Healthcare reports revenue of Rs 143 crore in Q1FY21
One of the leading diagnostics company, Metropolis Healthcare, reported its first-quarter result of FY21 on Tuesday. Owing to the nationwide lockdown, its consolidated net sales in Q1FY21 dipped nearly 30 per cent YoY to Rs 143 crore.
The company conducted nearly 26.5 lakh tests of 13.7 lakh patients in Q1FY21 as compared to 43.4 lakh tests of 23.5 lakh patients in Q1FY20. Revenue per test (including COVID-19) improved 15.4 per cent YoY to Rs 539 while, excluding COVID-19, it dipped 13.4 per cent YoY to Rs 405.
EBITDA for the period declined significantly by 78 per cent YoY to Rs 12.11 crore with a corresponding margin contraction of 1,861 bps. EBITDA margin for the quarter stood at 8.46 per cent. Fall in revenue and a higher share of COVID-19 test (low margin) resulted in margin contraction.
Profit after tax (PAT) fell nearly 69 per cent YoY to Rs 2.9 crore. PAT margin for the quarter stood at 2.01 vs 13.4 per cent in Q1FY20.
Notably, the company’s cash & cash equivalent has improved to Rs 235 crore in Q1FY21 from Rs 223 crore in FY20. Also, its working capital days reduced to 5 days from 11 days as of March 2020.
While giving an outlook, the company said that it expects to achieve complete normalcy in non-COVID testing by the end of Q2FY21 or early Q3FY21. Besides, it is acquiring the balance 49 per cent stake in Raj Metropolis and the rest 35 per cent stake in HistoXpert.
The stock of Metropolis Healthcare in today’s trading session surged nearly 6 per cent to touch an intraday high of Rs 1,690.15 apiece.