Practo’s Revenue Skyrockets by 22% in FY24, GMV Hits Rs 3,500 Cr
In a groundbreaking development, health-tech giant Practo has made waves by reporting a staggering 22% growth in revenue, reaching a whopping Rs 240 crore for the financial year 2023-24. This achievement was accompanied by an impressive gross merchandise value (GMV) exceeding Rs 3,500 crore, marking a significant milestone for the digital healthcare platform. The company’s remarkable performance was detailed in a recent statement, outlining its financial success and strategic advancements in the industry.
Road to Profitability: Narrowing Losses and Profitable Quarter
Practo’s noteworthy progress extends beyond revenue growth, as it successfully narrowed its losses to Rs 17 crore in the 2023-24 fiscal year, a substantial improvement from the previous year’s loss of Rs 99 crore. Additionally, the company proudly announced its first full profitable quarter in the final quarter of 2023-24, indicating a promising trajectory towards sustained profitability. Practo’s cofounder and CEO, Shashank ND, expressed his satisfaction with the company’s financial performance, emphasizing the organization’s commitment to enhancing healthcare outcomes while fostering a sustainable business model. Focus on Core Business and Expansion Strategy
With a sharp focus on its core business operations, Practo has achieved exceptional results, culminating in a remarkable GMV of Rs 3,500 crore by the end of March 2024. This metric represents the total value of goods and services transacted through the platform, underscoring the company’s robust market presence and service offerings. Moreover, Practo has reaffirmed its commitment to prioritizing profitability and revenue growth, signaling its intention to deepen its roots in the Indian market and explore new opportunities overseas. Global Reach and Impact
Practo’s influence extends far beyond national borders, as the platform operates in 22 countries, connecting over 40 crore patients with a network of over 5 lakh doctors and healthcare providers. This expansive reach underscores Practo’s dedication to expanding access to quality healthcare services on a global scale, solidifying its position as a leading player in the health-tech industry.
With a sharp focus on its core business operations, Practo has achieved exceptional results, culminating in a remarkable GMV of Rs 3,500 crore by the end of March 2024. This metric represents the total value of goods and services transacted through the platform, underscoring the company’s robust market presence and service offerings. Moreover, Practo has reaffirmed its commitment to prioritizing profitability and revenue growth, signaling its intention to deepen its roots in the Indian market and explore new opportunities overseas.
Global Reach and Impact
Practo’s influence extends far beyond national borders, as the platform operates in 22 countries, connecting over 40 crore patients with a network of over 5 lakh doctors and healthcare providers. This expansive reach underscores Practo’s dedication to expanding access to quality healthcare services on a global scale, solidifying its position as a leading player in the health-tech industry.
In conclusion, Practo’s remarkable financial performance and strategic initiatives underscore its commitment to driving innovation and excellence in the healthcare sector. As the company continues to prioritize profitability and sustainable growth, its impact on the industry is poised to expand further, benefiting millions of patients and healthcare professionals worldwide.
