Practo Turns Profitable In FY25, Revives IPO Plans

SUMMARY

In its annual letter for FY25, the startup claimed an operating EBITDA of INR 15 Cr on a revenue of INR 234 Cr

Practo’s GMV in FY25 reached INR 3,500 Cr from serving more than 5 Cr patients across 640 cities to connect with over 5 Lakh verified doctors on the platform

Founded in 2008, Practo helps patients find and book appointments with doctors for online consultations as well as order medicines and book diagnostic tests

Healthtech soonicorn Practo cofounder and CEO Shashank ND seemed upbeat while announcing the company’s results today after its first profitable year in the fiscal year 2024-25 (FY25).

“FY25 marked a quiet, but powerful shift – not just a profitable quarter, but our first full year of profitability – with six straight quarters and counting,” he said.

In its annual letter for FY25, the startup claimed an operating EBITDA of INR 15 Cr on a revenue of INR 234 Cr. Practo had posted an EBITDA loss of INR 17 Cr in the previous fiscal, when its topline stood at INR 240 Cr. It had turned EBITDA positive in the June quarter of FY24.

Its gross merchandise value (GMV) for the year under review reached INR 3,500 Cr from serving more than 5 Cr patients across 640 cities to connect with over 5 Lakh verified doctors on the platform.

The startup claimed that it audited over 1,000 healthcare establishments along with more than 4 Cr clinical data points to provide insights during the year.

Practo, founded by Shashank and Abhinav Lal in 2008, helps patients find and book appointments with doctors for online consultations as well as order medicines and book diagnostic tests.

For doctors, clinics, and hospitals, the platform provides software solutions for practice management, including tools for scheduling appointments and managing patient records.

The startup claimed to have achieved a 180% year-on-year growth in its network, taking the hospital count beyond 1.5 Lakh. It also operates 40 co-branded dermatology clinics across the country.

With its first profitable year in books now, the healthtech startup looks back on the IPO track. Its listing plans had first surfaced in its annual report for FY23.

“This year, we began preparing to go public. But for us, this isn’t just a financial milestone – it’s a step towards building an institution that lasts. We’re investing in leadership, governance, and long-term systems,” the company said.

The startup, however, did not offer a timeframe for its listing or the size of its intended IPO. In October 2023, cofounder Lal had told Mint that Practo was 12-18 months away from going public.