Bengaluru-based healthcare startup Practo has reported a robust 22% rise in operating revenue to Rs 242 crore for FY24, while impressively reducing its operating loss by 90% to Rs 17 crore. The company’s operating revenue for FY23 stood at Rs 194.53 crore, up from Rs 188.9 crore in the previous fiscal year.
Founded in 2008, Practo has established itself as a key player in the healthcare sector, offering services that connect patients with doctors, enabling instant appointment bookings and online consultations. The platform boasts a substantial network, including over 40 crore consumers, 150,000 doctors, and 80,000 healthcare establishments.
Practo has seen significant growth in tier II and III markets, with revenues in these areas increasing by 50% over the last year, compared to a 20% growth in tier I markets. The company’s hospital management system, Insta, is used by over 1,500 healthcare centers globally and holds a 15% market share in the UAE, with a 98% customer retention rate and positive cash flow.
“Data science offers the promise of preventing human error in diagnosis, matching patients with the right healthcare providers, reducing unnecessary costs through accurate diagnoses, and minimizing wasted resources due to misdiagnosis. And Practo stands at the forefront of this data-driven healthcare revolution,” said Shashank ND, cofounder and chief executive of Practo.
Looking ahead, Practo aims to achieve full-year profitable growth in FY25 by developing innovative products to enhance health outcomes. The company also plans to strengthen its core business and explore opportunities for international expansion.
