Medplus Health Services Sees 7% Surge in Shares Amid Robust Earnings Performance

Mumbai, November 13: The shares of Medplus Health Services soared as much as 7 per cent on Monday, driven by the company's impressive earnings performance in the September quarter.

At 09:32 am IST, shares of Medplus Health Services were trading at Rs 713 on the National Stock Exchange (NSE), with a total of six lakh shares changing hands so far. This represents three times the one-month daily traded average of two lakh shares.

The stellar earnings were largely driven by strong demand for over-the-counter medicines, which contributed to a twofold rise in net profit to Rs 38.74 crore, up from Rs 14.56 crore a year ago. The revenue from operations also grew 12 per cent on year to Rs 157.6 crore, with the company's retail business showing an around 11 per cent growth.

The EBITDA margin improved significantly, increasing to 4.6 per cent in Q2, up from 3.2 per cent a year ago. This uptick represents a noticeable improvement in the company's operational performance.

Medplus Health Services has also announced plans to expand into tier-2 cities by opening 600 new stores over the next three years. Currently, the company operates over 4,000 outlets nationwide, with Apollo Pharmacy leading with over 6,000 stores.

The recent store additions have placed Medplus Health Services second in terms of total number of stores, according to the latest count. The company took its total store count to 4,552 stores as of the end of the July-September quarter.