Practo India, January 09, 2025: Practo, India’s largest and most trusted platform for health services, today announced its financial results for the fiscal year 2024, ending March 2024, alongside key milestones demonstrating its focus on improving healthcare outcomes for consumers.
For the past 16 years, Practo has pioneered the use of computer and data science to drive better health outcomes. This commitment has digitally transformed healthcare, benefiting over 40 crore consumers, 5 lakh doctors and healthcare establishments over the years. In FY ’24 alone, Practo delivered a GMV of INR 3,500 crore, showcasing its scale and impact in delivering healthcare services. Additionally, the company audited over 661 healthcare establishments against international and national standards to provide consumers with an excellence score, empowering them to make informed choices while raising the standard of care in the country.
Building Sustainable Business with Consumer Impact
In FY ’24, Practo strengthened its core India business, achieving 240 crores in revenue, with a 22% year-over-year growth. This growth was complemented by achieving profitability, with an 82% improvement in EBITDA from -99.42 cr in FY ‘23 to -17 cr in FY ‘24. It also achieved its first full profitable quarter in Q4 of FY 24 and is well on its path to sustained profitability with consecutive profitability in the preceding 12 months ending September 2024.
Commenting on the company’s financial results, Shashank ND, Cofounder and CEO, Practo, added, “Our goal has always been on improving healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results. This performance reflects the strength of our business model, strategic market approach, and enhanced operational efficiencies. Practo is excited to continue this momentum, with ambitious plans for growth with profitability in the coming year.”
Key Financial Highlights:
- Revenue Growth: 22% year-over-year, reaching INR 240 crore
- Profitability: Achieved positive Operating EBITDA* in Q4 FY’24
- EBITDA Improvement: 82% reduction in Operating EBITDA* burn, from INR -99 crore in FY’23 to INR -17 crore in FY’24
- Delivered a GMV of INR 3,500 crore
- Core Business Focus: Resulted in 68% CAGR from FY ’22 to FY ’24
- Margin Expansion: Contribution margins increased to 40% in FY’24 from -1% in FY’22
Sharp focus on the core India business resulted in a 68% CAGR in FY 24. The contribution margins rose also to 40% in FY24 from -1% in FY22 while delivering revenue growth reflecting the strong business model coupled with a robust sales strategy and improvement in operational efficiencies.
Looking ahead, Practo is excited to continue its journey as one of the leading healthcare companies in the country, forecast to be EBITDA positive for the complete year and exit FY 25 with double digit growth rate.
The Next Big Opportunity – AI powered Health Outcomes
Having developed volumes of healthcare data over the years, Practo stands at the forefront of healthcare innovation. And the emergence of newer technologies such as AI will accelerate this innovation to build solutions that improve healthcare delivery and thereby improve outcomes. Some of the solutions Practo is working on include:
- Enhance Decision-Making: Empower customers with data-driven insights
- AI Assistant for Doctors: Assistance in diagnosis, treatment plans, and digital prescriptions
- Advance Practice Management: Cutting-edge tools to streamline clinic/hospital operations
Sustainable Growth & Profitable Future
Strengthening Core Business
Practo is doubling down on its core India business, expanding its presence in existing regions, and entering new domestic markets. Profitability and revenue growth remain top priorities as the company deepens its roots in India and abroad.
Investing in Tech and Innovation
Technology is central to Practo’s growth strategy. The company is committed to investing in advanced tools and solutions, backed by AI, to enhance healthcare outcomes and improve patient experiences.
Pursuing Global Expansion
With a strong foundation in India, Practo is exploring opportunities to expand its innovative healthcare solutions globally, extending its impact beyond domestic borders.
#Mission10kCataracts Initiative
Through the Practo Foundation, the company aims to provide 10,000 free cataract surgeries to underserved communities at a cost of less than INR 2,000 per surgery. To date, nearly 2,500 individuals in Karnataka, Telangana, and Andhra Pradesh have benefited, and Practo is all prepared to further scale this initiative.
*Operating EBITDA excludes the ESOP Cost and Foreign exchange fluctuation from the EBITDA
