PharmEasy cuts losses by 51% to Rs 2,533 Cr in FY24, revenue dips 15%

PharmEasy, an e-pharmacy and pathology brand, reduced its losses by 51.4% to Rs 2,533.5 crore in FY24, despite a 14.8% decline in revenue to Rs 5,664 crore. The company implemented significant cost-cutting measures, reducing overall expenses by 19.2% to Rs 7,254.8 crore. PharmEasy generated 88% of its operating revenue from the sale of pharmaceutical and cosmetic products, with the remaining revenue from diagnostic services, teleconsultations, and other services. The company also made Rs 94.6 crore in non-operating income. PharmEasy’s EBITDA (loss) stood at Rs 552 crore, with an EBITDA margin of -9.59%. The company’s current assets increased by 37.1% to Rs 3,476.2 crore, with cash and bank balances growing to Rs 328 crore. PharmEasy has raised around $1.1 billion to date, with a recent funding round valuing the company at $710 million.