Drug License Suspended For One MedPlus Health Store In Karnataka
The suspension order will be in place for a period of 15 days and will lead to the company incurring a potential revenue loss of Rs 10.15 lakh.
MedPlus Health Services Ltd.'s subsidiary Optival Health Solutions Pvt. Ltd. has received a suspension order for a drug license of a store situated in Karntaka, according to an exchange filing on Saturday.
"We would like to inform you that Optival Health Solutions Pvt. Ltd., a subsidiary of the company, has received one suspension order for a Drug License of a store situated at Karnataka", the filing stated.
It added that the suspension order will be in place for a period of 15 days and will lead to the company incurring a potential revenue loss of Rs 10.15 lakh. The store is located at MG Road of Karnataka's Chikkamagalore region.
Earlier in August, another subsidiary of the company had received a suspension order for a drug license at one of its stores in Maharashtra.
While In January, Optival Health Solutions had gotten drug license suspension orders for two of its stores, both stores were located in Telangana.
The suspension was for three days for the store in Thorrur Village and for one day for the store situated in Kukatpally Bhagyanagar, Telangana. At the time, the company was expecting to incur a potential revenue loss of up to Rs 0.45 lakhs and Rs 2.04 lakhs, respectively from the suspension orders.
Shares of MedPlus settled 0.59% higher at Rs 784.20 apiece on the NSE on Friday compared to a 0.41% advance in the Nifty index. The company's stock has fallen 5.61% year-to-date but it has risen 18.40% in the last 12 months.
