Mumbai, 6th August 2019: Mumbai Metropolis Healthcare Ltd (NSE: METROPOLIS |BSE: 542650) a leading diagnostic service provider today announced its un-audited financial results for the quarter ended 30th June 2019.
Key Growth Parameters: Increasing retail contribution in focus cities and asset light expansion model: In keeping with our plan to increase retail contribution in focus cities, our Q1FY20 revenue from retail contribution stood at 56% (51% in Q1FY19). This has resulted from a well planned expansion strategy and consistently delivering high consumer experience scores. 258 patient touch points have been added in Q1 FY20 registering an 11% growth q-o-q. Five new labs (Green field and Lab on Lease) are operational in Q1FY20. Our network as of Q1 FY20 consists of 124 laboratories and 2536 patient service centres.
Robust Operating Performance: Total patient visits and total tests performed have increased from 1.9Mn in Q1FY19 to 2.3Mn in Q1FY20 and 3.6Mn in Q1FY 19 to 4.3Mn in Q1FY20 respectively; registering an excellent growth of 17.7% and 20.9% Y-o-Y. New wellness initiatives: In Feb 2019, we launched our wellness initiative ‘Truhealth’ across 36 cities which to help bolster our position in the fast growing wellness segment. In the first quarter, we have recorded a 40% growth in this segment. Truhealth comprises of mass awareness on the need of preventive healthcare and promotion of customized wellness packages. It is expected that this segment will grow at a CAGR of approximately 20% over the next three years. (*Frost & Sullivan)
Commenting on the annual results, Ms Ameera Shah, Managing Director of Metropolis Healthcare Ltd said “We are happy to announce our first quarter results for FY20. Q1 is typically a lean quarter for the industry but we have witnessed a healthy revenue and volume growth. Keeping in line with our growth strategy, we are witnessing an increase in revenue contribution from our retail business, reflecting patient trust and preference for Metropolis. Strong operating parameters gives us comfort that we are moving in the right direction.
As a newly listed company and as an organisation with a strong sense of purpose, we are committed to working towards a solid governance framework and strong processes and systems. In addition to creating value for all stakeholders, we will continue to walk the extra mile for our patients who trust us during their most anxious moments during illnesses.”