India's Medplus Health Services set for worst day on record as Q1 profit plunges

MedPlus Health Services

22/07/2026 05:00

** India's Medplus Health Services  MEDP.NS  slumps 15.4% to
nearly 18-month low of 676 rupees
    ** Set for biggest daily pct drop since listing in December
2021
    ** Pharmacy retail-chain operator reports 22% plunge in
first-quarter net profit, hurt by rising competition and
increasing costs due to an aggressive store expansion strategy
    ** Nomura says gross profit growth at 14% year-on-year was 
slowest in four years, with gross margin down 163 basis points
    ** Attributes weak quarter to lower contribution from pharma
private label and higher overhead expenses
    ** More than 560,000 shares change hands, ~3.6x of 30-day
average daily volume
    ** Stock rated "buy" on average by 7 brokerage firms, median
PT at 1,150 rupees, per data compiled by LSEG
    ** YTD, MEDP down 16.3%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))