Medplus Health Services Sees 7% Leap in Share Price Despite Rising Competition

Mumbai, November 13 (PTI): Shares of Medplus Health Services soared by as much as 7 percent on the NSE today following a stellar earnings performance from the healthcare retailer in its September quarter.

At 09:32 am IST, shares of Medplus Health Services were trading at Rs 713 on the National Stock Exchange, with six lakh shares already changed hands so far. This is three times the one-month daily traded average of two lakh shares, indicating a significant surge in investor interest.

Driven by strong demand for over-the-counter (OTC) medicines, Medplus Health reported a consolidated net profit of Rs 38.74 crore for the quarter, marking a two-fold rise from Rs 14.56 crore the previous year ago. Revenue from operations also grew 12 percent to Rs 157.6 crore, mainly due to an around 11 percent growth in its retail business.

The company's operational performance also saw significant improvements, with EBITDA margin increasing to 4.6 percent in Q2, up from 3.2 percent the previous year.

Medplus Health Services' recent plans to expand into tier-2 cities by opening 600 new stores over the next three years are expected to contribute positively to its earnings growth in the future.

The company operates over 4,000 outlets nationwide and currently has around 6,000 stores. Apollo Pharmacy still leads with a network of more than 6,000 stores across the country.

"We are excited about our strong Q2 performance," said [Name], CEO of Medplus Health Services. "We expect these numbers to continue positively as we expand our presence in tier-2 cities and deepen our retail business."

The company's improved revenue growth is a positive sign for investors, but it remains to be seen how the rising competition in the healthcare sector will affect Medplus Health in the coming quarters.

Live tracking of shares: NSE: Rs 713 BSE: Rs 713