SIXTEEN IS THE age when students aiming to become doctors are entering the maws of NEET, the allIndia entrance examinations that decide whether they are fit to take a shot at getting the MBBS stamp. Now 16 going on 17, it's Practo's time to think if it is prepared for a date with the market. The doctoron-call app that began life as a tool to help doctors handle their appointments, has put the 2020 Covid-19 pandemic's disruption behind it and shrunk its losses by half. With over 150,000 doctors on board, Practo is now dabbling with artificial intelligence (AI).
Practo's FY24 results may set it on the path to an initial public offering (IPO). Over the past four financial years, Practo has grown revenues, although it is still losing money. Revenue increased from ₹105 crore in FY21 to ₹240 crore in FY24. It has brought down operational losses, with Ebitda or earnings before interest, taxes, depreciation, and amortisation going from-₹87 crore to -₹32 crore, and adjusted Ebitda losses decreasing from ₹82 crore to ₹18 crore.
The adjusted Ebitda margin as a percentage of revenue has improved, moving from -78.10% to -7.50%, indicating a positive shift in operational efficiency and cost management.
INSPIRATION
The results have charged up Practo's founders, Shashank N.D (37), Abhinav Lal (36), and Siddhartha Nihalani (37), who were all fresh information-technology (IT) graduates from the National Institute of Technology Karnataka at Surathkal, when they coded Practo in 2008.
"What started in our dorm rooms has grown over the past 16 years," Shashank, who is also the CEO of Practo, says. As a student, Shashank had to help his father undergo several surgeries and got to see some doctors up close. "I saw the surgeon's dedication and how much work he put in for each patient before and after appointments," Shashank says.
هذه القصة مأخوذة من طبعة October 13, 2024 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 13, 2024 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Do Edtech MBAs Deliver?
Once Considered The Future Of Education, The Edtech Mba Was A Popular Choice For Many An Ambitious Professional In India. But Is It Coming Through On The Promise Of Career Progress?
REGULATORY SHOCK
P2P lending platforms are facing challenges in adapting to the new RBI regulations, resulting in a decline in their business volume of up to 90%
Chipping In
The Adani Group plans to set up India's second semiconductor manufacturing facility in Maharashtra
THE RANKING PROCESS
A DETAILED LOOK INTO THE METHODOLOGY AND PROCESS FOLLOWED FOR THE BT-MDRA INDIA'S BEST B-SCHOOLS SURVEY 2024
THE SCHOOL ON THE HILL
NESTLED IN THE LUSH FORESTS OF THE WESTERN GHATS, THE GOA INSTITUTE OF MANAGEMENT IS ATTRACTING STUDENTS FROM THE FARTHEST CORNERS OF THE COUNTRY WITH ITS UP-TO-DATE CURRICULUM AND STRONG HERITAGE
START-UPS' QUEST FOR MBA 'STARS'
WHILE VETERANS OFFER EXPERIENCE, FRESH B-SCHOOL GRADUATES PROVIDE NEW PERSPECTIVES, MAKING THEM HIGHLY VALUABLE IN THE DYNAMIC, FAST-PACED START-UP SPACE
BEYOND THE CLASSROOM
IIM INDORE HAS JUMPED INTO THE TOP 5 IN THE BEST B-SCHOOLS SURVEY THANKS TO ITS STELLAR PLACEMENT RECORD AND ROOTED APPROACH TO MANAGEMENT
CHAMPION OF CHAMPIONS
IIM CALCUTTA HAS RETAINED THE TOP POSITION IN THE BT-MDRA BEST B-SCHOOLS SURVEY FOR THE FOURTH CONSECUTIVE YEAR DUE TO ITS TOP FACULTY, TALENTED STUDENT POOL, A ROBUST CAMPUS, AND ADAPTABILITY
Regularising the Irregular
Recent changes to the rules governing PPF accounts will kick in from October 1. Investors must act fast
CARING FOR THE ELDERLY
Healthcare providers welcome extension of AB PM-JAY, but say some issues need to be addressed
