Pristyn Care’s FY23 Revenue Inches Closer To INR 500 Cr Mark, Loss Jumps To INR 383 Cr

Delhi NCR-based healthtech unicorn Pristyn Care’s operating revenue increased 45% in the financial year ended March 31, 2023. The Peak XV Partners-backed startup reported an operating revenue of INR 452.8 Cr in the financial year 2022-23 (FY23), an increase of 1.4X from INR 312.7 Cr in the previous fiscal year.

Founded by Harsimarbir Singh, Dr Vaibhav Kapoor, and Dr Garima Sawhney in 2018, Pristyn Care offers advanced secondary care surgeries through its network of more than 200 clinics, 700 hospitals, and a team of 400+ in-house super-speciality surgeons across 40 cities in India.

Including other income, the startup’s total revenue rose 45.6% to INR 493.7 Cr in FY23 from INR 338.9 Cr in the previous fiscal year.

Despite the increase in its top line, Pristyn Care’s net loss surged 38% to INR 382.5 Cr during the year under review from INR 277.1 Cr in FY22.

Where Did Pristyn Care Spend?

The startup’s total expenditure increased to INR 876.8 Cr in FY23, a rise of 42% from INR 616 Cr in the previous year.

Advertising Expenses: The startup’s advertising expenditure was one of the biggest expenses during the year under review. Pristyn Care spent INR 219.9 Cr under the head in FY23, an increase of 17% from INR 187.8 Cr it spent in the previous fiscal year.

Employee Benefit Expenses: Pristyn Care spent INR 198.5 Cr on employee salaries and other benefits during the year under review, up 36% from INR 146.3 Cr in FY22. 

Surgery Expenses: The startup’s expenses under the head grew 30% to INR 133.4 Cr in FY23 from INR 102.3 Cr in the previous fiscal year.

It is pertinent to note that Pristyn Care added new surgical categories, including dental procedures, knee replacement, and weight loss surgeries, in FY23. It also expanded the availability of some of its categories such as ophthalmology, gynecology and urology beyond the major metro markets.

Earlier this year, the startup also began operations in Bangladesh, establishing a presence in Dhaka and Chittagong. 

Pristyn Care has raised $177 Mn across multiple funding rounds till date. The startup entered the coveted unicorn in late 2021 after raising $96 Mn in its Series E round from Peak XV Partners (then Sequoia Capital India), Tiger Global, Winter Capital, Eriq Capital and Hummingbird Ventures at a valuation of $1.4 Bn.

The startup competes against the likes of Practo, PharmEasy, and MediBuddy.

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