Why Medplus Share Price Is On The Moon Today

Medplus share price jumped back in the green on Friday as the stock skyrocketed over 18% to hit an intraday high of ₹812.

What Happened: The surge today comes after the company posted its earnings for the quarter that ended March in after market hours on Thursday. The company’s consolidated revenue from operations for the January-March period stood at ₹1,252.98 crore, up close to 30% from the year-ago period.

Net profits for the review quarter were at ₹26.58 crore, more than double the ₹11.73 crore profit it booked in the same quarter last year. The bottom line received a bump as the company got a ₹18.6 crore differed tax benefit in the March quarter.

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The pharma chain’s EBITDA came in at ₹81.6 crore up 56% from the year-ago period. EBITDA margin was at 6.51%. Earnings per share for the quarter stood at ₹2.2.

The pharma giant added 265 stores in the January-March period. As of March 2023, the company has a total of 3,822 stores across the country.

Price Action: Medplus share price was up 17.85% to trade at ₹812.90 in the early hours of trading on Friday.

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