MedPlus Health Services Q3 FY26 Profit Jumps 26% to ₹57.8 Crore

31 Jan 2026 , 02:06 PM

MedPlus Health Services Ltd reported a strong financial performance for the third quarter of FY26, supported by steady revenue growth, margin improvement, and continued store expansion across markets beyond tier I cities.

The company’s net profit for the December quarter rose 26.2% year on year to ₹57.8 crore, compared with ₹45.8 crore recorded in the same period of the previous financial year.

Revenue from operations grew 15.7% year on year to ₹1,806 crore during the quarter, up from ₹1,561.4 crore in Q3 FY25, reflecting higher store throughput and improving demand trends.

On a sequential basis, revenue increased 7.5% over Q2 FY26, translating into an incremental revenue addition of ₹127 crore during the quarter. The company’s private label business posted a 2.6% year on year growth, contributing to margin stability and product mix improvement.

Earnings before interest, tax, depreciation, and amortisation increased 19.7% year on year to ₹158.5 crore, compared with ₹132.4 crore reported in the corresponding quarter last year.

EBITDA margin improved to 8.78% in Q3 FY26 from 8.48% in the year ago period, supported by operating leverage and better cost efficiencies. Gross margin for the quarter stood at ₹472 crore, reflecting a year on year growth of 26.2% and an expansion of 110 basis points.

During the quarter, MedPlus added 182 stores, including 228 gross additions and 116 net additions outside tier I cities, taking the total store count to 5,112 as of December 31, 2025.

Stores that have been operational for more than 12 months delivered a revenue growth of 10.5% compared with Q3 FY25, highlighting consistent same store sales momentum.

These mature stores reported a store level EBITDA margin of 12.4%, while operating return on capital employed stood at 77.7%, indicating strong capital efficiency.

Pharmacy operating EBITDA for the quarter came in at ₹92.5 crore, translating into an operating margin of 5.2%, which improved by 10 basis points on a sequential basis.

Company level operating EBITDA stood at ₹96.8 crore for the quarter, reflecting stable operational performance across business segments. Operating cash flow during the quarter reached ₹90.5 crore, covering 93.5% of operating EBITDA, underlining strong cash generation.

The company’s closing cash and bank balance stood at ₹608 crore as of December 31, 2025, providing adequate liquidity to support future expansion plans.

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