Medplus Health Services' Stock Price Sees 6 Percent Rally Amid Strong Quarterly Results

Mumbai, India - Medplus Health Services, a leading pharmacy chain in India, has witnessed a significant momentum in its stock price over the past week, with shares rising by 6 percent.

On Monday, the company's shares surged by 3 percent to Rs 726, with almost 7 percent equity or 78.9 lakh shares worth Rs 552 crore changing hands at an average price of Rs 700 per share via a block deal. At about 10 am on Tuesday, Medplus Health Services' stock price was trading at Rs 715, representing a gain of 1.5 percent on the NSE.

The company's stock is benefiting from its impressive quarterly results, which saw a twofold rise in net profit to Rs 38.74 crore in the second quarter compared to Rs 14.56 crore during the same period last year.

According to Medplus Health Services' latest earnings report, revenue from operations rose by 12 percent during the quarter, driven primarily by growth in its retail segment. The company's operational efficiency also improved, with an EBITDA margin climbing to 4.6 percent in Q2, compared to 3.2 percent in the same period last year.

The pharmacy chain plans to expand aggressively into tier-2 cities, targeting 600 new stores over the next three years. With its existing store network of over 4,000 outlets, Medplus is poised to become one of India's leading healthcare service providers.

During the July-September quarter, the company added 108 stores, including 71 in smaller markets, bringing its total store count to 4,552 by the end of the period. This aggressive expansion plan and strong revenue growth are driving investor confidence in Medplus Health Services' stock.