India's MedPlus Health reports 18% rise in Q1 profit on retail demand
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India's MedPlus Health Services reported a 18.3% rise in first-quarter profit on Monday as increased presence of the pharmacy helped drive its retail sales.
The company's consolidated net profit rose to 37.9 million rupees ($458,277.41) in the three months ended June 30, from 32 million rupees, a year earlier.
MedPlus Health was benefited from the increased accessibility of its pharmacies through online channels and retail stores in the country.
Its revenue rose 29.2% to 12.84 billion rupees in April-June quarter, which managed to offset a 29% rise in expenses.
Revenue from its retail segment, which accounts for nearly 99% of the company's business, rose 28.2% to 12.70 billion rupees, while revenue from its diagnostic services business more than quadrupled to 139 million rupees.
Shares of MedPlus Health closed 1.4% higher ahead of reporting its results.
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