Pristyn Care’s Loss Flat At INR 381 Cr In FY24

Healthtech Unicorn Pristyn Care Enters Primary Healthcare With Acquisition Of Ratan Tata-Backed Lybrate

SUMMARY

Pristyn Care reported a net loss of INR 381 Cr in the financial year 2023-24 (FY24), down a negligible 0.42% from INR 382.6 Cr in the previous fiscal year

Pristyn Care’s operating revenue grew 32.6% to INR 600.5 Cr during the year under review from INR 452.9 Cr in FY23

Meanwhile, total expenditure rose 15.6% to INR 1,013.8 Cr in FY24 from INR 876.8 Cr in FY23

Healthtech startup Pristyn Care reported a net loss of INR 381 Cr in the financial year 2023-24 (FY24), down a negligible 0.42% from INR 382.6 Cr in the previous fiscal year.

The startup’s loss was flat despite a strong growth in its top line. Pristyn Care’s operating revenue grew 32.6% to INR 600.5 Cr during the year under review from INR 452.9 Cr in FY23.

The startup earned INR 226.7 Cr from the sale of products, it generated INR 332 Cr from the sale of services. While the revenue from the sale of services remained stagnant in the period under review, the revenue from products grew 112.6% from INR 106.6 Cr in FY23.

EBITDA loss improved slightly to INR 345.3 Cr from INR 352 Cr in the previous year. EBITDA margin improved to -57% in FY24 from -78% in FY23.

Founded by Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney, Pristyn Care is a healthtech platform that focuses on surgeries. It helps patients connect with skilled surgeons for better treatment.

Recently, the startup opened its first super-speciality hospital in New Delhi.

Pristyn Care has raised a total funding of $177 Mn to date and counts the likes of Tiger Global, Winter Capital, Epiq Capital, and Hummingbird Ventures among its investors. As per reports, the startup is planning to raise between $50 Mn and $100 Mn in a new funding round to support its growth. The round is expected to close by mid-2025.

The startup is also considering going public within the next three years and has already started discussions with bankers, global investors, and family offices to prepare for the listing.

In March last year, Pristyn Care fired 120 employees with an eye on turning profitable in FY25.

Breaking Down The Expenses

The rise in Pristyn Care’s revenue outpaced the increase in its expenses. Total expenditure rose 15.6% to INR 1,013.8 Cr in FY24 from INR 876.8 Cr in FY23. Let’s take a look at the key expenses:

Employee Benefit Expenses: The startup’s expenses in this segment decreased 3.42% to INR 191.8 Cr from INR 198.6 Cr in FY23.

Advertising & Promotional Expenses: Pristyn Care’s advertising expenses decreased 20.89% to INR 182.5 Cr from INR 230.7 Cr in FY23.

IT Expenses: The spending under the head increased 6.38% to INR 15 Cr from INR 14.1 Cr in the previous year.