Net profit of the diagnostics firm rose 296 per cent to Rs 61.3 crore in the fourth quarter of FY21. It had reported a net profit of Rs 15.5 crore for the corresponding period a year ago. Sales came in at Rs 291.73 crore for the quarter ended March 2021, up 40.95 per cent compared with the year-ago period.
The scrip jumped 9 per cent to Rs 2,494 at the strongest level of the day before giving up some of those gains. Still, the stock sharply outperformed the S&P BSE Sensex, which was up 0..43 per cent at 51,337.27.
In Q4, the company recorded its highest ever quarterly revenue largely led by a healthy recovery in non-Covid and increased Covid testing on a month-on-month basis. The company has taken various cost control initiatives to optimise its cost structure leading to enhanced margins in the quarter.
Metropolis Healthcare reported a rise of 44 per cent in net profit to Rs 183.3 crore for the fiscal ended March 31, 2021, compared to the net profit of Rs 127.5 crore for the previous financial year. Sales grew 17 per cent to Rs 997.8 crore from Rs 855.5 crore during the period under review.
Metropolis healthcare shares were listed in April 2019. Since then, the shares of the company have trebled over the issue price of Rs 877.
The board of at its meeting held on May 27, 2021 approved the appointment of Hemant Sachdev as additional non-executive non-independent director.
