Medplus share price rises 7% on posting more than 1.5x profit in Q2FY25

Medplus Healthcare Services shares jumped 7 per cent on Wednesday and registered an intraday high of Rs 724 per share on BSE. The buying interest in the stock came after the company's second quarter (Q2FY25) net profit more than doubled to Rs 38.74 crore.

 

Around 11:48 AM, Medplus' share price was up 3.52 per cent at Rs 699.4 per share on BSE. In comparison, the BSE Sensex was down 0.64 per cent at 78,170.49. The market capitalisation of the company stood at Rs 8,361.13 crore. The 52-week high of the stock was at Rs 724 per share on BSE and 52-week low of the stock was at Rs 

 

693.05 per share.

 

On Tuesday, after market hours, the pharmaceutical retail company posted a sharp jump in second-quarter profit to Rs 38.74 crore for the quarter ended September 30 as compared to Rs 14.56 crore a year ago.

 

The company's revenue from operations rose 12 per cent to Rs 1,576 crore as compared to Rs 1,408.6 crore a year ago. 

 

The Earnings before interest, tax, depreciation, and amortisation (Ebitda) for the second quarter stood at Rs 124 crore as compared to Rs 85 crore a year ago which implies a rise of 46 per cent. 

 

The Ebitda margins of the company for the quarter under review stood at 7.9 per cent as compared to 6 per cent.

 

The company did not specify the sales break-up of over-the-counter and prescription medicines, both of which are part of the retail business.

 

Drugmakers Mankind Pharma's and Cipla's domestic revenues were boosted by strong demand for OTC medications, the companies said in their second-quarter earnings statements.

 

MedPlus Health said in September that it plans to increase its presence in tier-2 cities by opening 600 new stores over the next three years.

 

MedPlus Healthcare is a healthcare service provider in India, widely recognised for its chain of pharmacies and medical services. It was established with the mission to offer high-quality medicines and healthcare solutions at affordable prices. 

 

MedPlus operates a large network of retail pharmacies across India, where customers can find a range of pharmaceutical products, over-the-counter medicines, health supplements, and medical devices. In addition to its physical stores, MedPlus also offers an online platform, allowing customers to conveniently order medications, book lab tests, and access health services from the comfort of their homes. 

 

With a focus on providing accessible and reliable healthcare, MedPlus has become a trusted name in Indian healthcare, contributing significantly to both the retail and diagnostic sectors.

 

In the past one year, Medplus shares have declined 17 per cent against Sensex's rise of 21 per cent.