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Pristyn Care revenue grows 33% to Rs 601 Cr in FY24

EntrackrEntrackr · 6m ago
Pristyn Care revenue grows 33% to Rs 601 Cr in FY24
Medial

Pristyn Care, a surgery-focused hospital chain, recorded over Rs 600 crore in revenue for the fiscal year ending March 2024. While expanding its operations, the Tiger Global-backed company kept its losses steady during the same period. Pristyn Care’s revenue from operations grew by 32.7% to Rs 601 crore in FY24 from Rs 453 crore in FY23, its consolidated financial statements accessed from the Registrar of Companies show. The company follows a hybrid model, setting up its own clinics and utilizing third-party hospital infra to provide surgeries. The company claims to have a presence in over 40 cities, managing 100 clinics and treating patients in more than 350 partner hospitals. Income from the sale of healthcare services accounted for 55.24% of the total operating revenue which stood at Rs 332 crore in FY24. The rest of the revenue came from the sale of medical and healthcare products which surged 2.5X to Rs 267 crore in the previous fiscal. Pristyn Care also added Rs 31 crore in income from (non-operating) activities, which tallied its overall revenue to Rs 632 crore in FY24, as compared to Rs 494 crore in FY23. For the healthcare firm, the procurement of medical devices accounted for 26% of its total expenses. Driven by the growth in device sales, the procurement costs rose to Rs 264 crore in FY24 from Rs 75 crore in FY23. The company cut its advertising and employee benefits costs by 21% and 3.5% to Rs 183 crore and Rs 192 crore, respectively. Surgery, fees to doctors, legal, travel, consumables, and other overheads increased the overall expenditure to Rs 1,014 crore in FY24 from Rs 877 crore in FY23. By the end of FY24, the Harsimarbir Singh-led company reduced its workforce by 7% as it aims for profitability and prepares for an initial public offering (IPO) in the coming years. The 32% scale and controlled expenditure on advertising and employee benefits helped Pristyn Care to post a flat loss which stood at Rs 381 crore in FY24, as compared to Rs 383 crore in FY23. On a unit level, it spent Rs 1.69 to earn a rupee in FY24. For its surgery business, the company projects a 35% growth in FY25, along with a 60% improvement at the EBITDA level. Pristyn Care also plans to launch an IPO within the next three years. Notably, Pristyn Care achieved this growth without raising external funds in the past three years. In December 2021, the company secured $85 million from Peak XV Partners, Tiger Global to attain unicorn status. In June 2022, it acquired Lybrate, a company backed by Ratan Tata and Tiger Global.

Pristyn Care opens its first super-speciality hospital in South Delhi

EntrackrEntrackr · 5m ago
Pristyn Care opens its first super-speciality hospital in South Delhi
Medial

Pristyn Care opens its first super-speciality hospital in South Delhi Surgery-focused healthcare institution Pristyn Care has opened its first super-specialty hospital in South Delhi. With this, the Gurugram-based firm is expanding its infrastructure and deepening its commitment to advanced patient care. According to the company, the new hospital has four modular operating theaters with advanced technology, including a Level 3 NICU for newborn care. With the expansion, Pristyn Care is equipped to handle cosmetology and dermatology, offering a high-end setup for procedures such as anti-aging treatments, fat loss therapies, and CoolSculpting, along with a comprehensive range of laser treatments. In the last five years, Pristyn Care has conducted 300,000 surgeries. It now handles over 3 million patient interactions yearly, with 100,000 surgery registrations each month. Pristyn Care aims to establish 50 hospitals across 25 cities within the next three years, with plans to open 15 new hospitals in the coming year. The expansion will focus on key cities such as Delhi NCR, Bangalore, Hyderabad, Mumbai, Pune, Chennai, Patna, Coimbatore, Bhubaneswar, Chandigarh, Ahmedabad, and Kochi. Additionally, three new hospitals are set to be launched within the next four months. To support the growth, Pristyn Care aims to employ more than 3,500 healthcare professionals and 750 surgeons in the facilities. For the fiscal year ending in March 2024 (FY24), Pristyn Care’s operating revenue grew by 32.7% to Rs 601 crore from Rs 453 crore in FY23. In FY25, the company claims to have reduced its EBITDA burn by 60% year-over-year. In December 2021, the company secured $96 million from Peak XV Partners and Tiger Global to attain unicorn status.

Tractor Junction grows 3X in FY23, posts Rs 7.5 Cr losses

EntrackrEntrackr · 1y ago
Tractor Junction grows 3X in FY23, posts Rs 7.5 Cr losses
Medial

Rural vehicle marketplace Tractor Junction has managed to grow its scale by nearly three-fold during the last fiscal year (FY23). The byproduct of the fast-paced growth, however, is the five-year-old company slipping into red during the said period. Tractor Junction’s revenue from operations grew 196.2% to Rs 26.84 crore during the fiscal year ending March 2023 as compared to Rs 9.06 crore in FY22, as per the company’s consolidated annual financial statement with the Registrar of Companies. Launched by Shivani Gupta and Rajat Kumar, Tractor Junction is a rural vehicle marketplace that helps buy, sell, finance, and insure new and used tractors, farm equipment, and rural commercial vehicles. It also provides necessary information and vetted reviews on farm machinery, enabling users to compare shortlisted options, and bringing transparency in pricing. The company made 55% of its revenue from sale of tractors while the remaining came from the sale of services. The sales of services segment mainly deals in the business of providing advertising services to Original Equipment Manufacturers (OEMs) through generation of leads from their website and selling those leads to OEM’s. Tractor Junction also cornered Rs 1.75 crore via interest and gains on financial assets (non-operating revenue). Including this, the company’s total income stood at Rs 28.6 crore in FY23. Further, the Alwar-based company spent most on the cost of materials accounting for 42% of the total expenditure. This cost shot up over 20X to Rs 14.54 crore in FY23 from Rs 71 lakh in FY22. Employee benefit cost for the company jumped over 2X to Rs 9.35 crore during the last fiscal year. Moreover, advertising & publicity expenses also increased 56.1% to Rs 3.81 crore during FY23 from Rs 2.44 crore in FY22. Overall, the company’s total expenditure ballooned more than four-fold to Rs 34.67 crore in FY23 from Rs 8.28 crore in FY22. Head to startup intelligence platform TheKredible for complete expense breakdown and year-on-year financial performance of the company. On the back of rising expenses, the company slipped into red. Tractor Junction recorded Rs 7.46 crore losses in FY23 against Rs 67 lakh profit in FY22. The impact of cash burn can also be seen in operating cash outflows which climbed to around Rs 17 crore during the last fiscal year. FY22-FY23 FY22 FY23 EBITDA Margin 11.15% -19.41% Expense/Rupee of ops revenue ₹1.29 ₹0.91 ROCE 33.95% -15.36% The EBITDA margin and ROCE of the firm stood at -19.41% and -15.36%, respectively in FY23. On a unit level, Tractor Junction spent Rs 1.29 to earn a rupee of operating revenue during the fiscal year. As per TheKredible, Tractor Junction has raised nearly $6 million to date from investors including Info Edge, Omnivore, Rockstart and Indigram Labs et al.

Pristyn Care turns its first hospital profitable within 2 months

EntrackrEntrackr · 2m ago
Pristyn Care turns its first hospital profitable within 2 months
Medial

Setting a new benchmark in India’s healthcare sector, Pristyn Care has turned its first hospital in South Delhi profitable in less than two months, according to sources. This contrasts with the usual timeline in the healthcare sector, where hospitals generally take between 12 to 24 months to reach break-even. The Gurugram-based firm opened its first super-specialty hospital in South Delhi in February this year. “The hospital reached double-digit profitability within weeks of opening. The hospital currently has the capacity to handle 30% more patients, providing room for further growth while continuing operations,” said one of the sources. Establishing its own hospital infrastructure in the capital is helping the company go deeper into patient care and ensure tighter control over the end-to-end patient journey. This greater control is enabling consistent delivery, stricter adherence to safety protocols, and a more integrated care experience for every patient. Unlike most healthcare institutions where demand is doctor-driven, Pristyn Care has been generating its own patient flow — even while operating out of partner hospital infrastructure. “With its own hospital now operational, the company has seen a 10-point rise in its Net Promoter Score (NPS), reflecting higher patient satisfaction,” said another source. Confirming the development to Entrackr, Dr. Vaibhav Kapoor, co-founder of Pristyn Care, said, “This milestone is a reflection of the trust patients place in us. With our own hospital, we’re able to deliver more consistent, safer, and compassionate care — every single day.” Pristyn Care’s technology platform plays a key role in this progress by managing doctor schedules, patient coordination, and the surgical process. This helps make operations more efficient and improves the overall patient experience. Harsimarbir Singh, co-founder of Pristyn Care, added, "In healthcare, trust is everything. By managing the full care continuum ourselves, we’re earning that trust one patient at a time — and that’s the real success story." As per sources, over 60% of its patient inflow is organic. The company already disclosed its plans to open 50 hospitals across India in the next three years, with new locations in cities like Mumbai, Bengaluru, Hyderabad, Pune, Chennai, Ahmedabad, Patna, Chandigarh, and Coimbatore. Backed by the likes of Peak XV and Tiger Global, Pristyn Care secured $96 million to attain unicorn status in December 2021. In FY24, the company’s operating revenue grew by 32.7% to Rs 601 crore from Rs 453 crore in FY23. In FY25, it claims to have reduced its EBITDA burn by 60% year-over-year.

ShareChat’s revenue grows 33% in FY24 to Rs 718 Cr

EntrackrEntrackr · 7m ago
ShareChat’s revenue grows 33% in FY24 to Rs 718 Cr
Medial

Mohalla Tech, the parent entity of the vernacular social media platform ShareChat and short video entertainment app Moj, has registered 33% year-on-year growth during the fiscal year ended March 2024. Its adjusted EBITDA loss also plummeted by 67% in the same period. According to the company's press release, Mohalla Tech’s revenue from operations increased to Rs 718 crore in FY24 from Rs 540 crore in FY23. Revenue from live streaming contributed 56% of the company's total operating income, which grew by 41.4% to Rs 403 crore in FY24. Advertising accounted for the remaining share, which saw a 23.5% year-on-year growth to Rs 315 crore in FY24. ShareChat also added a non-operating income of Rs 29 crore mainly from interest and gain on financial assets which tallied the overall revenue to Rs 747 crore in the last fiscal year. For the social media firm, server cost was the largest cost center in FY24. As per Sharechat’s chief financial officer Manohar Charan, the firm managed to reduce this cost by 50% in FY24. Sharechat has managed to reduce its employee benefits cost by 17% to Rs 580 crore in FY24. This includes Rs 126 crore as ESOP (non-cash). Its advertising, legal, travel, and other overheads took the overall operating expenses to Rs 1540 crore in FY24 from Rs 3119 crore in FY23. In calculating the overall cost, we have excluded all non-cash components, including interest, provisions, foreign exchange (FX) losses, depreciation, and ESOP expenses for both FY24 and FY23. The 33% growth and controlled server cost helped Mohalla Tech to reduce its adjusted EBITDA losses by 67% to Rs 793 crore in FY24 from Rs 2400 crore in FY23. Notably, the net consolidated losses of the firm stood at Rs 1,898 crore in FY24 down from Rs 5,143 crore in FY23. Backed by the likes of Temasek Holdings, Google, Twitter, The Times Group, Tiger Global, Snap, Lightspeed, and Elevation Capital, ShareChat claims to have more than 325 million monthly active users (MAUs) across all its platforms. Its short video app Moj boasts a monthly active user base of nearly 160 million. The company recently expanded its debt round to $65 million, with a $16 million infusion from Singapore-based EDBI. According to startup data intelligence platform TheKredible, ShareChat has raised around $1.8 billion. However, it saw a major haircut in valuation to less than $2 billion from $5 billion during its last fundraise in June 2022. As part of its mid-year performance cycle, the company also let go of 5% of its workforce in August this year. In 2023, ShareChat implemented several cost-cutting measures and laid off 700 employees across two phases.

Paytm revenue grows 25% and nears Rs 10,000 Cr in FY24

EntrackrEntrackr · 1y ago
Paytm revenue grows 25% and nears Rs 10,000 Cr in FY24
Medial

One97 Communication Private Limited, the parent company of Paytm, scaled 25% year-on-year during the fiscal year ending March 2024. The Noida-based firm, however, managed to maintain EBITDA profitability before ESOP throughout the last fiscal year (FY24). Paytm’s revenue from operations grew 25% to Rs 9,978 crore in FY24 from Rs 7,990 crore in FY23, its annual financial statements disclosed through the National Stock Exchange show. Income from payment services accounted for 62.48% of the total operating revenue, which grew 25% to Rs 6,235 crore in FY24. Meanwhile, income from financial services grew by 30% to Rs 2,004 crore. The remainder income came from marketing and other sources. Paytm also made Rs 547 crore from non-operating activities mainly from interest and gain on financial assets, tallying the total income to Rs 10,525 crore in the last fiscal year (FY24). To the tune of other technology firms, its employee benefits accounted for 39.4% of the overall expenditure. This cost surged 21.5% to Rs 4,589 crore in FY24 from Rs 3,778 crore in FY23. This includes Rs 1,466 crore as share-based payment aka ESOPs cost. Its payment processing charges grew 10.9% to Rs 3,280 crore in FY2. Paytm’s software/tech, marketing cum promotional, legal, and other overheads drove its total expenditure up by 15% to Rs 11,645 crore in FY24 from Rs 10,130 crore in FY23. Note: Paytm has booked Rs 1,465 crore of ESOPs and wrote off Rs 227 crore worth of investments which was made to its associate firm Paytm Payments Bank Ltd (PPBL) after RBI’s action. The decent growth and controlled expenditure helped Paytm to reduce its net losses by 20% to Rs 1,422 crore in FY24. Meanwhile, Paytm maintained its EBITDA profitability before ESOP throughout the year which stood at Rs 559 crore in FY24.

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