A large block deal took place in Medplus Health Services, with 1.5 crore shares, equivalent to 12.8% of the company’s equity, changing hands at a price of ₹616 per share. The total value of the transaction amounted to approximately ₹950 crore.
Medplus Health Services, one of India’s largest pharmacy chains, has seen its stock price decline in early trading today. At 9:22 AM, the stock was trading at ₹619.00 on the NSE, down 2.52% or ₹16.00 from the previous close.
The block deal comes on the heels of Medplus Health Services’ recent financial performance. In the April-June quarter, the company posted a post-tax profit of ₹3.76 crore compared to ₹3.67 crore a year ago. However, the consolidated profit after tax dropped 86% sequentially from ₹26.55 crore reported in Q4FY23.
Revenue from operations climbed 29% to ₹1,284.29 crore in Q1-FY24, from ₹993.65 crore in the year-ago period. The company’s EBITDA surged 28.6% on-year to ₹80.73 crore from ₹62.77 crore but dropped 15.3% from ₹95.33 crore in Q4-FY23.
