Pristyn Care Sees Record Revenue Growth, Steady Losses Amid Expansion Plans

Pristyn Care saw significant revenue growth, reaching Rs 601 crore in FY24.
The company's full-stack business model drove this growth. With a presence in 30 cities and 100 clinics, Pristyn Care is expanding its reach.

Revenue from the sale of healthcare services accounted for 57.5% of the total operating revenue, standing at Rs 346 crore in FY24. The remaining revenue came from D2C products (beatXp), which surged 2.5 times to Rs 267 crore in the previous fiscal.

The company's overall revenue reached Rs 632 crore in FY24, up from Rs 494 crore in FY23. Notably, Pristyn Care added Rs 31 crore in income from non-operating activities, bringing its total revenue to Rs 632 crore.

Looking ahead, Pristyn Care projects a 35% growth in its surgery business and a 60% improvement at the EBITDA level for FY25. The company also plans to launch an initial public offering (IPO) within the next three years.

Despite its impressive revenue growth, Pristyn Care maintained steady losses of Rs 381 crore in FY24, compared to Rs 383 crore in FY23. The company's controlled expenditure on advertising and employee benefits helped it post a flat loss.

Pristyn Care's procurement costs for D2C products rose to Rs 253 crore in FY24 from Rs 75 crore in FY23, driven by the growth in device sales. The company cut its advertising and employee benefits costs by 21% and 3.5%, respectively, to Rs 183 crore and Rs 192 crore.

As the company prepares for an IPO, it has reduced its workforce by 7% to focus on profitability. Pristyn Care achieved this growth without raising external funds in the past three years, having secured $96 million from Peak XV Partners and Tiger Global in December 2021 to attain unicorn status.

In June 2022, the company acquired Lybrate, a company backed by Ratan Tata and Tiger Global. With its full-stack business model and strategic acquisitions, Pristyn Care is poised for continued growth and success in the healthcare industry.