Medplus Health Services Faces 5% Share Price Dip After Q1 Profit Announcement

8 Aug 2023 , 01:10 PM

Medplus Health Services Ltd experienced a decline of around 5% in its share price during morning trading on August 8. This was in response to the pharmacy retail chain’s announcement of its post-tax profit for the quarter ending June.

The company reported a post-tax profit of Rs 3.76 crore for the quarter ending June, compared to Rs 3.67 crore during the corresponding period the previous year.

The company’s consolidated profit after tax exhibited an 86% sequential drop from Rs 26.55 crore in the previous quarter ending March 2023.

The company’s revenue from operations witnessed a 29% increase to Rs 1,284.29 crore in Q1FY24, in contrast to Rs 993.65 crore during the corresponding period in the previous year. This information was shared by the company in a regulatory filing post-market hours on August 7.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 28.6% compared to the previous year, reaching Rs 80.73 crore from Rs 62.77 crore. However, it exhibited a 15.3% decrease from Rs 95.33 crore in the previous quarter (Q4 FY23).

The company disclosed that it opened 153 new stores in Q1 FY24, with 87 of them located beyond Tier 1 cities. As of June 30, 2023, the company’s network consisted of 3,975 stores.

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