Healthcare startup Practo, has reported a 22 pewr cent increase in operating revenue to Rs 242 crore for the fiscal year 2024, while reducing its operating loss by 90 per cent to Rs 17 crore.
In the previous fiscal year, its operating revenue was Rs 194.53 crore, up from Rs 188.9 crore in the year before.
Established in 2008, Practo helps patients connect with doctors, book instant appointments and get online consultations. It has a network of over 40 crore consumers, 150,000 doctors and 80,000 healthcare establishments.
According to the company, it experienced significant growth in tier II and III markets over the past year, with revenues in these areas increasing by 50 per cent, while tier I markets saw a 20 per cent growth.
Its hospital management system, Insta, is used by over 1,500 healthcare centers worldwide and holds a 15 per cent market share in the UAE. The system also boasts a 98 per cent customer retention rate and is cash flow positive.
The company aims to achieve full-year profitable growth in the fiscal year 2025 by developing innovative products, strengthening its core business, and exploring opportunities for international expansion.
