SUMMARY
- Healthians’ revenue from operation rose 8.5% to Rs 243 crore from Rs 224 crore in FY23.
- The company reduced its losses by 65% to Rs 45 crore in FY24.
- Healthians’ total expenses stood at Rs 298 crore in FY24.
Diagnostic startup Healthians‘ revenue from operation rose 8.5% to Rs 243 crore from Rs 224 crore in FY23 according to its consolidated financial statements accessed from the Ministry of Corporate Affairs (MCA).
Offering at-home diagnostic services, Healthians has expanded its reach to over 250 cities and claims to have performed more than 10 crore tests to date.
The primary source of income for Healthians is the operation of its pathology labs, which saw an increase of 8.62% to Rs 240.5 crore in FY24. The remainder of its income came from the sales of health supplements, which amounted to Rs 2.2 crore in the year under review.
Additionally, Healthians generated Rs 10 crore from non-operating activities (interest income) bringing its total revenue to Rs 253 crore in FY24 from Rs 236 crore in FY23.
The healthtech company spent 40% of its total expenses on employee benefits, which saw a decline of 11.8% to Rs 120 crore in FY24 from Rs 136 crore in FY23. The cost of advertising also fell by 62% to Rs 39 crore in FY24 from Rs 103 crore in FY23.
The expenses related to materials, rent, Information Technology, and other overhead costs also contributed to the total expense of Rs 298 crore in FY24.
Controlled expenses helped the Gurugram-based company to reduce its losses by 65% to Rs 45 crore in FY24, while also reaching EBITDA breakeven in the same fiscal year.
Its ROCE and EBITDA margins improved to reach -20.4% and 0% (breakeven) in the fiscal year. The company spent Rs 1.23 to earn a rupee in FY24.
In FY24, Healthians had a total current assets value of Rs 62 crore, which includes cash and bank balances of Rs 30 crore.
The company has secured approximately $80 million in funding to date, with its latest round being a $54 million funding led by WestBridge in 2022. WestBridge holds the largest external stake with 25%, followed by Beenext and DG Ventures.
