Metropolis stock rises after healthcare company sees 12% jump in core business revenue for Q3

Metropolis Healthcare Share Price: Shares of Metropolis Healthcare were trading in positive territory in the morning session on BSE after the firm said that it had witnessed an early double-digit growth in revenues for its core business in the third quarter. 

The stock of the healthcare company was trading higher by 0.47 per cent, or Rs 7.75, at Rs 1665.10 at 10:51 am on Tuesday. 

Metropolis Healthcare Q3 Update

The company said that the revenue for its core business in the third quarter ended December 31, 2023, saw a jump of 12 per cent Year-on-Year (YoY).

"It is worth noting that during Q3FY24, business operations in Chennai & rest of Tamil Nadu, which is one of the bigger markets for the company, was impacted on account of heavy rains and floods in the first week of December 2023, contributing to some softness in revenues for the quarter," the company said in a statement.

While the revenue growth was at 9 per cent, its B2C revenue grew by 14 per cent YoY.

Margins for Q3FY24 were down slightly on year-on-year basis, the company's update revealed.