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.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
LOOK BEFORE YOU LEAP
IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more