Metropolis Healthcare profit rises 36 pc to Rs 42 cr in Q3

New Delhi, Feb 4 (PTI) Metropolis Healthcare on Wednesday posted a 36 per cent increase in consolidated net profit at Rs 42 crore for the December quarter.

The diagnostics firm reported a net profit of Rs 31 crore for the October-December period of the last fiscal year.

The company made a provision of Rs 9 crore as an exceptional item for the new labour code during the quarter under review.

Revenue from operations rose to Rs 406 crore for the quarter as against Rs 323 crore in the year-ago period, Metropolis Healthcare said in a regulatory filing.

The company's board has approved and recommended the issuance of bonus equity shares in the proportion of 3:1 -- i.e. 3 shares of face value of Rs 2 each for every 1 share of face value of Rs 2 each held by the members.

"The diagnostics sector in India is at a pivotal inflection point, driven by the growing adoption of preventive healthcare, a rising chronic disease burden, and the expansion of organised healthcare across Tier-II and Tier-III markets. Our Q3 performance reflects how Metropolis is capturing these opportunities through a clear strategic focus and sustained investments in specialised capabilities," Metropolis Healthcare Promoter and Executive Chairperson Ameera Shah said.

Shares of the company on Wednesday ended 0.047 per cent down at Rs 1,891.25 apiece on the BSE. PTI MSS TRB