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Tencent-backed Practo misses FY24 revenue target, trims EBITDA loss

VCCircle · 5m

Tencent-backed Practo achieved a 23% revenue growth to Rs 240 crore in FY24 but fell short of its 44% target. It significantly reduced its EBITDA loss from Rs 99.4 crore in FY23 to Rs 17 crore and recorded an adjusted EBITDA profit in Q4. Practo aims to be EBITDA-positive by FY25, focusing on expanding its core business, which includes booking medical appointments and offering telemedicine services. The company operates in 22 countries and is backed by investors like Tencent.