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India's Medplus Health Services rises after higher quarterly profit

By Reuters News

** Shares of India's Medplus Health Services MEDP.NS rise as much as 4.43% to 648.95 rupees

** Company reported second-quarter consolidated net profit of 560.8 million rupees ($5.90 million), compared with 555.01 million rupees in the year-ago period; revenue rose 21% y/y

** Operating EBITDA margin improved 135 bps sequentially to 4.8%, but remained 46 bps below year-ago levels

** Nomura ("buy", TP: 1,190 rupees) says margins recovered sequentially as private-label sales increased, but flags pressure from faster store expansion

** YTD, Medplus stock down 24.7%



($1 = 95.1150 Indian rupees)

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