News on Medial

Healthians posts Rs 224 Cr revenue and Rs 184 Cr loss in FY23

EntrackrEntrackr · 1y ago
Healthians posts Rs 224 Cr revenue and Rs 184 Cr loss in FY23
Medial

Healthtech startup Healthians had targeted Rs 500 crore revenue with profits in FY23. But it seems like the company has missed this projection by a significant margin: it did not reach even the halfway mark. At the same time, its losses spiked 55%. The company’s revenue from operations increased 34.13% to Rs 224 crore in FY23 from Rs 167 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Healthians delivers health test at-home services, extending a diverse array of health tests across 250 cities in India. According to its website, the firm has facilitated over 100 million tests since its inception in 2015. The sale of diagnostics services was the primary source of revenue for Heathians while the rest of the income came from the sale of supplements. Visit TheKredible for a detailed revenue breakup. In line with similar healthtech platforms, its employee benefits formed 32% of the overall expenditure. This cost rose by 83.8% to Rs 136 crore in FY23 from Rs 74 crore in FY22. Its advertising and promotional costs also saw an increase of 45% in FY23. The cost of materials, legal-professional, technical service, information technology, and other overheads propelled its overall expenditure by 40.9% to Rs 420 crore in FY23 from Rs 298 crore in FY22. Head to TheKredible for a complete expense breakup. Expenses Breakdown Total ₹ 298 Cr https://thekredible.com/company/healthians/financials View Full Data To access complete data, visithttps://thekredible.com/company/healthians/financials Total ₹ 420 Cr https://thekredible.com/company/healthians/financials View Full Data To access complete data, visithttps://thekredible.com/company/healthians/financials Cost of materials consumed Cost of materials consumed Employee benefit Employee benefit Information technology Information technology Legal professional Legal professional Advertising promotional Advertising promotional Cost technical services Cost technical services Others To check complete Expense Breakdown visit thekredible.com View full data Caveat: We have excluded the gain/loss of the FVTPL for both years (FY23 and FY22). With the increase in expenses outpacing the revenue growth, losses for Healthians grew 54.6% to Rs 184 crore in FY23. Its ROCE and EBITDA stood at -74% and -61.4% respectively. FY22-FY23 FY22 FY23 EBITDA Margin -56% -61.4% Expense/₹ of Op Revenue ₹1.78 ₹1.88 ROCE -27% -74% On a unit level, it spent Rs 1.88 to earn a rupee in FY23. With the Covid pandemic and its associated after effects well behind now, it’s a testing time in more ways than one for health test firms. So much so that larger diagnostic firms stopped providing splits between Covid and non-Covid testing some time ago. Established players are fighting back with a vengeance, even as customers seek more options. Hospital chains in the larger cities are also probably much more aggressive today in trying to retain their OPD business for their diagnostic clinics. As independent entities, Healthians faces the obvious issue of doctors not really recommending it or worse, discounting its test results, as we have observed in many cases. Add to that the intense competition and consequent discounting in the market today, and profits are the last thing on the mind of players. While a listed player like Dr Lal PathLabs might be more careful, others are not so worried as these seek to grab market share. More importantly, the larger players with a captive base like hospitals or even listed players have the money to invest in newer testing methods and technology. The next big market by all measures remains tier 3 and 4 cities, something that will not please Healthians again for the investments they will demand to set up a network. It is probably time to brainstorm around a clear differentiator in terms of communications, or even a test area it can count on for higher margins, for Healthians to make the next step towards sustainability.

Related News

Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24

EntrackrEntrackr · 7m ago
Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24
Medial

Diagnostic startup Healthians recorded a modest 8% year-on-year growth during the fiscal year ending March 2024. However, the WestBridge-backed company reduced its losses by 65% and achieved EBITDA breakeven in the same period. Healthians’s revenue from operations increased to Rs 243 crore in FY24 from Rs 224 crore in FY23, its consolidated annual results sourced from the Ministry of Corporate Affairs (MCA) show. Healthians offers at-home diagnostic services across over 250 cities and claims to have conducted more than 10 crore tests to date. Income from running laboratories for pathological tests was the primary source of revenue for Healthians which increased 8.62% to Rs 240.5 crore in FY24. The rest of the collections were from the sale of supplements, which stood at Rs 2.2 crore in the last fiscal year. Healthians also added Rs 10 crore from non-operational activities (interest income) which tallied the overall revenue to Rs 253 crore in FY24, as compared to Rs 236 crore in FY23. The Gurugram-based company allocated 40% of its overall burn to employee benefits. This cost dropped by 11.8% to Rs 120 crore in FY24 compared to Rs 136 crore in FY23. Advertising expenses also shrank over 62% to Rs 39 crore in FY24 from Rs 103 crore in FY23. The cost of material consumed, rent, Information technology, and other overheads took the overall expenditure to Rs 298 crore in FY24. The controlled spending on advertising and employee benefits helped Healthians to narrow losses by 65% to Rs 45 crore in FY24. With this, the company has achieved EBITDA breakeven in the previous fiscal (FY24). Coming to the ratios, Healthians’ ROCE and EBITDA margins improved to -20.4% and 0% (breakeven) in FY24. It spent Rs 1.23 to earn a rupee in FY24. The company has a total current assets of Rs 62 crore including the cash and bank balances of Rs 30 crore in the previous fiscal. Healthians has raised around $80 million to date including its last round of $54 million led by WestBridge in 2022. According to the startup data intelligence platform TheKredible, WestBridge is the largest external stakeholder with 25% followed by Beenext and DG Ventures. Financial stability is the primary thing that a company needs to survive. It seems like Healthians got some of the mantras to how to be constant with the scale while burning low. Achieving EBITDA breakeven for the first time will give more confidence to both founders and investors. Turning this achievement into net profits is difficult yet achievable- an approach Dr. PathLabs has been executing for many years. The next two to three years will be crucial in shaping the company's trajectory.

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24

EntrackrEntrackr · 3m ago
Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24
Medial

Decathlon India posts Rs 4,008 Cr revenue and Rs 197 Cr PAT in FY24 Decathlon has made a turnaround in FY24, reporting a profit of Rs 197 crore, a sharp recovery from a Rs 18 crore loss in FY23. However, its revenue growth remained flat, registering a 2.2% year-on-year increase for the fiscal year ending March 2024. Decathlon India’s revenue from operations grew to Rs 4,008 crore in FY24 from Rs 3,920 crore in FY23, its annual standalone financial statements sourced from the Registrar of Companies (RoC) show. Decathlon India operates on a direct-to-consumer model, managing the design, manufacturing, and sale of its sports gear through large retail stores and an e-commerce platform. The company currently operates 90 stores across India. The sale of sports products was the sole source of revenue for Decathlon India. It also added Rs 58 crore from interest on investments and other non-operating income which tallied its overall to Rs 4,066 crore in FY24. The cost of procurement was the latest cost center forming 64.4% of the overall expenditure. This cost was reduced by 4.3% to Rs 2,448 crore in FY24, compared to Rs 2,559 crore in FY23. Decathlon India spent Rs 327 crore on employee benefits. Its controlled spending on power, rent, repairs, fuel, advertising, information technology, freight, franchisee fees, and legal/professional expenses led to an overall cost reduction of 4.5% to Rs 3,797 crore in FY24 from Rs 3,975 crore in FY23. Despite modest revenue growth, Decathlon India’s cost-control measures enabled it to post a net profit of Rs 197 crore in FY24, a sharp recovery from a Rs 18.6 crore loss in FY23. On a unit level, the company spent Re 0.95 to earn a rupee, with improved ROCE at 17.79% and EBITDA at 14.49%. By the end of the last fiscal year (FY24), its total current assets stood at Rs 1,247 crore, including Rs 325 crore in cash and bank balances. Last year, Decathlon India CEO Sankar Chatterjee mentioned that the company plans to double its revenue to Rs 8,000 crore within the next 3 to 5 years.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

Download the medial app to read full posts, comements and news.