Metropolis Healthcare shares jump higher after diagnostics firm records 13% rise in revenue

Metropolis Healthcare Share Price: Shares of Metropolis Healthcare are rising higher by 1.44 per cent, or Rs 21.15, at Rs 1,492.40, on BSE on Monday after the diagnostics firm's core business revenue rose 13 per cent Year on Year. 

The company's operating margin also increased quarter-on-quarter due to operating leverage and product mix.

The stock closed on Friday evening at Rs 1,471.25 before opening at Rs 1,447.15 on Monday. 

The stock reached as high as Rs 1,510 minutes after the market opened on Monday.

The scrip was in high demand on Monday as it witnessed a spurt in its volume by more than 2.62 times in morning deals.

How shares of Metropolis Healthcare have performed of late?

The jump on Monday helped the stock rise 1.39 per cent in the last five trading sessions.

The shares have risen 5.23 per cent in the last month, 19.38 per cent in the six-month period, and 13.26 per cent year to date.

However, in the last one year, they have gone down by 3.81 per cent.

Compared to it, the benchmark Nifty 50 index has been 0.22 per cent up in the last five trading sessions, down 2.11 per cent in the last one month, soared 11.06 per cent in the six-month period, rose 7.56 per cent year to date, and has skyrocketed 13.53 per cent in the one year.

What Q2 updates of Metropolis says

• Core business revenue up 13% (YoY)
• Operating margin increased quarter-on-quarter due to operating leverage and product mix
• B2C revenue grows 15% (YoY) driven by new patient growth and volumes
• Premium wellness segment fastest growing segment in Q2FY24
• Gross debt by 30 September 2023 is at Rs 44 crore

What does Metropolis Healthcare do?

Metropolis Healthcare Limited is one of India's leading diagnostics company with a chain of diagnostic centres across the country, South Asia, Africa, and the Middle East.

The company offers a comprehensive range of clinical laboratory tests and profiles.

These tests and profiles are used for prediction, early detection, diagnostic screening, confirmation and/or monitoring of the disease.