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Practo delivers 3,500 Cr GMV in FY24; narrows EBITDA losses by 82%

EntrackrEntrackr · 7m ago
Practo delivers 3,500 Cr GMV in FY24; narrows EBITDA losses by 82%
Medial

Practo surpassed a GMV (gross merchandise value) of over Rs 3,500 crore in the fiscal year ending March 2024. The company also recorded a 22% year-on-year increase in operating revenue, while operating EBITDA losses reduced by 82% during FY24. Practo’s revenue from operations increased to Rs 240 crore in FY24, reflecting a 22% increase when compared to FY23, the company’s press release shows. Practo helps patients find and connect with the right healthcare providers. It is a platform to find quality & verified healthcare services enabling patients to make informed decisions through an array of processes such as audits of facilities, verification of doctors credentials, merit-based scoring system for providers, patient reviews etc. It also provides software for hospitals and clinics to improve the efficiency of facilities. According to the blog post on the company’s website, it has served over 54 million patients across 642 cities and has done more than 600 healthcare establishment (hospital) audits during the previous fiscal. Practo’s focused approach to its core India business resulted in a 68% CAGR (compound annual growth rate) between FY22 and FY24, while its contribution margin improved significantly, rising from -1% in FY22 to 40% in FY24, according to the press release. “Our goal has always been to improve healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results. Practo is excited to continue this momentum, with ambitious plans for growth with profitability in the coming year”, Shashank ND, Co-founder and CEO, of Practo, added. The growth and controlled expenditure helped Practo to reduce its EBIDTA losses by 82% to Rs 17 crore in FY24 from Rs 99.4 crore in FY23. As per the company, the last quarter (Q4) of FY24 was profitable and claimed profitability over the preceding 12 months ending September 2024. Practo is also exploring global expansion to extend its healthcare services beyond India. Practo has raised a total of $179 million to date from investors including Peak XV Partners, Matrix Partners (Z47), Tencent, and AIA. It competes with Pristyn Care-owned Lybrate, Medibuddy, and Healthians, among others.

Exclusive: Healthcare startup Practo reduces workforce

EntrackrEntrackr · 1y ago
Exclusive: Healthcare startup Practo reduces workforce
Medial

The digital healthcare platform Practo is now among the several startups that have conducted significant layoffs to cut costs and focus on profitability, according to three sources familiar with the details. “Practo has laid off over 20% of its workforce earlier this week,” said one of the sources requesting anonymity. Practo has also confirmed that it has let some staff go. However, the company did not disclose the total number of workforce impacted. Last year, Practo laid off 41 employees mostly from the engineering team part of the company’s continuous performance management and planning process, amid funding winter. Practo has raised a total of $179 million to date, including a $55 million Series D round led by China’s Tencent, and other existing investors, at around a $600-650 million valuation. According to the startup data intelligence platform, TheKredible, Sequoia Capital is the largest stakeholder in Practo with 33.8% shares, followed by Tencent and AIA Hong Kong, which command 9.9% and 6.6% stakes, respectively. Founded in 2008, Practo connects doctors with patients and offers several ancillary services such as telemedicine, pathology, and medicines. The platform claims to have 150,000 doctor partners, and around 1.7-1.8 million annual visitors to its platform. It is present across 720 cities, and 13,900 pin codes across 20 countries. Practo also claims to be profitable in the ongoing fiscal year. In FY23 the healthcare startup posted flat revenue at Rs 211 crore whereas its loss dwindled by 58% to Rs 99.4 crore during FY23.

Exclusive: Practo eyes global markets after 6 profitable quarters; pilots underway in US

EntrackrEntrackr · 24d ago
Exclusive: Practo eyes global markets after 6 profitable quarters; pilots underway in US
Medial

Exclusive: Practo eyes global markets after 6 profitable quarters; pilots underway in US IPO-bound digital health platform Practo has posted its first-ever full-year operating EBITDA in FY25. Entrackr has exclusively learned that the company has also kicked off a pilot in the US, with 50–60 paying customers already signed up. The Bengaluru-based company reported an operating EBITDA of Rs 15 crore in FY25, compared to an EBITDA loss of Rs 17 crore in FY24, according to its latest annual letter accessed by Entrackr. During FY25, Practo’s revenue from operations stood at Rs 234 crore, while its gross merchandise value (GMV) remained steady at Rs 3,500 crore. It also achieved positive cash flows, signaling strong capital discipline. Practo showed steady recovery and cost control in FY24, while FY25 demonstrated its ability to scale sustainably. The company claims to have served over 50 million patients across more than 640 cities, supported by a network of 5 lakh doctors. This tech-led efficiency is rooted in Practo’s core ‘Care Navigation’ business, where gross margins grew at a 30% CAGR over the past three years. Its overall contribution margin rose from 40% in FY24 to 46% in FY25, reflecting a sharper focus on high-margin services and improved operational efficiency. As a result, the company turned around from a Rs 162 crore loss in FY22 to a Rs 15 crore profit in FY25, marking a 109% improvement over three years, according to the figures mentioned in the letter. A key focus area driving this momentum is the company’s investment in AI across its product stack. Practo is using artificial intelligence to improve health outcomes, helping patients navigate care more efficiently and enabling smarter workflows and insights for doctors. The firm said it leverages 40 million structured data points to power these AI-led insights. Reinforcing its focus on quality, Practo became the first Indian digital health firm to publish Patient-Reported Outcome Metrics (PROMs). These metrics showed that 78% of telemedicine users and 80% of physical consultation patients reported recovery within three weeks. These figures, based on self-reported outcomes, include patients who did not follow prescribed treatment plans. Building on this outcomes-driven model, Practo deepened its global presence by launching its consumer-facing platform in the UAE in May 2025. Within weeks, the platform onboarded 50,000 monthly active users and hit a Rs 100 crore GMV annual run rate, as per the letter. The company claims that it is on track to reach 10% annual user penetration in Dubai, signaling strong demand for integrated healthcare discovery tools backed by insurance data and cross-border access between Indian and UAE patients and providers. As part of its broader global expansion strategy, Practo aims to double its international revenue over the next few years, while sustaining profitability and scaling its overall impact.

Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses

EntrackrEntrackr · 1m ago
Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses
Medial

Tata 1mg, the digital healthcare platform backed by Tata Digital, continued its growth trajectory in the fiscal year ending March 2025 while straining its losses. Tata 1mg’s consolidated revenue rose 22% to Rs 2,392 crore in FY25 from Rs 1,968 crore in FY24, according to Tata Sons’ Annual Report for the fiscal year. Tata 1mg is a health tech startup for online orders of allopathic, ayurvedic, homeopathic medicines, vitamins, nutrition supplements, and other health products, delivered to the home. 1mg’s revenue was split across two entities: Tata 1mg Technologies, which clocked Rs 2,016.5 crore, and Tata 1mg Healthcare Solutions, which contributed Rs 375.5 crore in FY25. The company's total cost rose by 17% to Rs 2682 crore in FY25, up from Rs 2303 crore in FY24. The Gurugram-based company posted a consolidated loss of Rs 276 crore in FY25, 12% lower than the Rs 313 crore loss reported in FY24. On a unit basis, the company spent Rs 1.12 to earn a rupee of operating revenue in FY25. On the asset side, Tata 1mg reported total assets of Rs 2,025 crore at the end of FY25 while its total liabilities reached Rs 1,190 crore. In the e-health space, Tata 1mg competes with Reliance-backed Netmeds, PharmEasy, and Apollo 24/7. Tata Digital acquired a 55% stake in 1mg in June 2021 but has since gained around 8.5% additional stake in the e-medicine platform. According to TheKredible, Tata Digital currently holds a 63.5% stake in 1mg, which was last valued at 1.25 billion. Tata Digital reported a standalone revenue of Rs 546.9 crore and a loss of Rs 827.5 crore in FY25, indicating continued investment in its digital commerce bets including 1mg and other verticals such as BigBasket, Cult.fit, and the recently launched Tata Neu.

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