After posting 132% growth in PAT for Q4, this pharmaceutical company surges by 18% today!
Medplus Health Services Ltd announced impressive results during this exciting financial season.
In comparison to the same quarter last year, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 132.37% to Rs 26.56 crore from Rs 11.43 crore. In Q4FY23, the company's total net revenue increased by 29.39% from Rs 978.95 crore to Rs 1266.68 crore in a similar quarter the year prior.
In comparison to last quarter, the company's net profit for the fourth quarter, increased by 98.50% to Rs 26.56 crore from Rs 13.38 crore. In a similar period, the company's total net revenue increased from Rs 1201.68 crore to Rs 1266.68 crore.
The company reported a decrease in net profit for the year ended March 31, 2023, from Rs 94.72 crore to Rs 50.10 crore. When compared to the year ended March 31, 2022, the company's net revenue increased by 20.81% to Rs 4603.65 crore from Rs 3810.64 crore in the year prior ended on March 31, 2022.
Share Price Movement
Yesterday the scrip closed at Rs 689.85. Today it opened at Rs 735.05 and currently is trading at Rs 815.50 up by 18.21%. The BSE group 'A’ stock has a market cap of around Rs 9,700 crore. It has a 52-week high of Rs 920 and a 52-week low of Rs 570.
The company was founded in 2006 by Gangadi Madhukar Reddy, with the vision to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology. MedPlus Health Services is the second-largest pharmacy retailer in India in terms of revenue and number of stores. It operates 2,165 stores in 242 cities distributed across India as of June 30, 2021. Company operations include the manufacturing and contract manufacturing of private label pharmaceutical, wellness and FMCG products, wholesale and retail sales, import, distribution, and pathology diagnostic laboratory testing.
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