13 Nov , 2024 By : Debdeep Gupta
Shares of Medplus Health Services soared as much as 7 percent on November 13 as investors cheered for the company's robust earnings performance in the September quarter, marked by a twofold rise in net profit.
At 09.32 am, shares of Medplus Health Services were trading at Rs 713 on the NSE. The stellar earnings also lifted trading volumes in the counter as six lakh shares already changed hands so far, three times the one-month daily traded average of two lakh shares.
Driven by strong demand for over-the-counter (OTC) medicines, the company reported a consolidated net profit of Rs 38.74 crore for the quarter gone by, up from Rs 14.56 crore a year ago.
Revenue from operations also grew 12 percent on year to Rs 157.6 crore, fueled by an around 11 percent growth in its retail business, which contributes nearly all of the company's total sales. In addition, the company's operational performance also improved as the EBITDA margin witnessed an uptick to 4.6 percent in Q2, up from the 3.2 percent that it recorded in the year-ago period.
Meanwhile, MedPlus Health also recently announced plans to expand into tier-2 cities by opening 600 new stores over the next three years. The company currently operates over 4,000 outlets nationwide, ranking just behind Apollo Pharmacy, which leads with over 6,000 stores.
In the quarter under review, Medplus added 108 new stores, with 71 additions beyond tier-1 cities. The recent store additions took the company's total store count to 4,552 stores as of the end of the July-September quarter.
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