Practo reports 22% rise in revenue in FY24, GMV crosses Rs 3,500 crore

Health-tech platform Practo has reported a 22 per cent growth in revenue to Rs 240 crore for the 2023-24 financial year as it achieved a gross merchandise value of Rs 3,500 crore in the year, according to a company statement.

The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 from Rs 99 crore in the previous financial year, the statement said.

Practo stated that also achieved its first full profitable quarter in the last quarter of 2023-24 and is on its path to sustained profitability with consecutive profit in the preceding 12 months ending September 2024.

Practo cofounder and CEO Shashank ND said, "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.

The company delivered a gross merchandise value (GMV) of Rs 3,500 crore in the year ended on March 31, 2024. GMV is the total value of goods and services sold by a vendor or supplier.

Practo said the platform 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, the platform said. Practo operates in 22 countries and connects over 40 crore patients with over 5 lakh doctors and healthcare providers.