MedPlus' Karnataka store license suspended, may face losses of over Rs 10 lakh:

News Topical, Digital Desk : Optival Health Solutions Pvt. Ltd., a subsidiary of MedPlus Health Services Ltd., has received an order suspending the drug license of one of its pharmacies in Karnataka. The company informed the stock exchanges that the store is located on MG Road in Chikmagalur district, Karnataka.

The company said the suspension will last for 15 days, resulting in a potential revenue loss of approximately ₹10.15 lakh. Earlier in August, another subsidiary of the company received a similar suspension order for a store in Maharashtra.

Where shops were closed

Additionally, in January 2025, Optival Health Solutions received orders suspending the licenses of two stores in Telangana. The Thorur Village store was closed for three days and the Kukatpally Bhagyanagar store was closed for one day. At that time, the company estimated losses of ₹0.45 lakh and ₹2.04 lakh, respectively.

Shares saw an increase

MedPlus shares closed 0.59% higher at ₹784.20 on the NSE on Friday, compared with a 0.41% gain in the Nifty index. The company's shares have fallen 5.61% so far this year but have gained 18.40% over the past 12 months.