The digital healthcare platform Practo announced profitability for FY24, which represents a notable improvement in its financial results.
For the whole of Q4 of FY24, the startup’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were positive.
Practo reported a 22% increase in revenue and a 90% improvement in EBITDA over FY23. The startup’s adjusted negative EBITDA dropped dramatically from Rs 162 crore to Rs 17 crore thanks to its laser-like focus on its core business, which resulted in a 68% Compound Annual Growth Rate (CAGR).
Appointment scheduling, software, and telemedicine make up Practo’s core business, which is currently profitable and produces healthy cash flows. Practo’s top priority in FY25 is to grow profitably while building innovative products that continue to improve health outcomes. With advancements in AI, the company plans to upgrade its products to include the best AI features for both consumers and providers.
The past year has seen notable expansion in Tier II and III markets, where revenues have increased by 50%, compared to a 20% growth in Tier I markets.
Furthermore, its hospital management system, Insta, is cash flow positive, has a 98% retention rate, 15% market share in the UAE, and is trusted by over 1,500 healthcare facilities worldwide.
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