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Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24

EntrackrEntrackr · 8m 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.

Perfios' net profit rises 9x; global revenue doubles

The Arc WebThe Arc Web · 8m ago
Perfios' net profit rises 9x; global revenue doubles
Medial

Perfios Software Solutions, a credit underwriting and fraud analytics platform, recorded a consolidated revenue of Rs 557.78 crore ($66 million) in fiscal year 2024 (FY24), representing a 37% growth from the previous year. Its net profit also grew significantly to Rs 71.7 crore ($8.5 million) in FY24, marking a nine-fold increase. The company experienced significant growth in its international revenue, which doubled to Rs 52 crore ($6.2 million) in FY24. Perfios has been focusing on expanding globally, particularly in Southeast Asia. It also underwent a successful integration with Karza Technologies, a fraud analytics company it acquired in 2022. Perfios aims to become a global software-as-a-service company under the leadership of its CEO, Sabyasachi Goswami. The company's visibility and marketing efforts have increased as it aims to expand further.

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