Bengaluru: Practo has reported strong results for FY24, achieving a 90 per cent improvement in EBITDA compared to FY23 and a 22 per cent growth in revenue. The company achieved a positive adjusted EBITDA in Q4 and is on track to maintain this positive momentum in the full year of FY25. A sharp focus on core business resulted in a 68 per cent CAGR, reducing adjusted negative EBITDA from Rs 162 crore to Rs 17 crore. Additionally, its contribution margins rose to 40 per cent in FY24 from -1 per cent in FY22, reflecting enhanced operational efficiencies.
Its core business, comprised of software, appointment booking, and telemedicine is profitable, and generates healthy cash flows. In the last year, the company observed significant growth in tier II and III markets, with revenues in these regions growing by 50 per cent, while tier I markets grew by 20 per cent. Its hospital management system, Insta, trusted by over 1,500 healthcare centres globally, now has a 15 per cent market share in the UAE. Insta also reported a 98 per cent retention rate of our customer base and is cash flow positive.
