HealthKart Turns Profitable, Posts INR 38 Cr PAT In FY24

SUMMARY

HealthKart’s income from operations surged 23% to INR 1,021.53 Cr in FY24 from INR 832.48 Cr in FY23

HealthKart’s whole expenditure rose a mere 1.4% YoY to INR 1,030.98 Cr in FY24 as in opposition to INR 1,016.55 Cr within the earlier fiscal yr

Based in 2011, HealthKart operates as an omnichannel shopper diet platform and has raised over $350 Mn since inception

Vitamin-focussed ecommerce market HealthKart turned worthwhile within the monetary yr 2023-24 (FY24) on the again of development in its high line and enchancment in margins.

As per the standalone monetary assertion of Vivid Lifecare Pvt Ltd, the mother or father of HealthKart, sourced from Tofler, the corporate posted a internet revenue of INR 38.33 Cr in FY24 as in opposition to a lack of INR 164.73 Cr in FY23.

In the meantime, its high line zoomed previous the INR 1,000 Cr mark. HealthKart’s income from operations surged 23% to INR 1,021.53 Cr through the yr beneath evaluation from INR 832.48 Cr in FY23. 

Together with different earnings of INR 47.84 Cr, whole earnings for the fiscal stood at INR 1,069.37 Cr.

Earlier this month, HealthKart raised $153 Mn in a funding round co-led by ChrysCapital and Motilal Oswal Alternates (MOA). In a press release, the corporate then stated that FY24 was a “milestone yr” for it. 

“Within the fiscal yr, the corporate not solely crossed INR 1,000 Cr income, but additionally achieved full yr EBITDA profitability,” the assertion stated. 

Based in 2011 by Sameer Maheshwari and Prashant Tandon as HealthKart Plus, the startup initially acted as an ecommerce platform promoting well being dietary supplements in addition to pharmaceutical medicine. 

The corporate’s present avatar, HealthKart, was initiated in 2015. It now operates as an omnichannel shopper diet platform. It has raised over $350 Mn since inception.

The place Did HealthKart Spend?

HealthKart managed to regulate its bills, with whole expenditure rising a mere 1.4% regardless of the 23% improve in high line. It reported a complete expenditure of INR 1,030.98 Cr in FY24 as in opposition to INR 1,016.55 Cr within the earlier fiscal yr. 

Value of Supplies Consumed: This was the most important expense for HealthKart, rising 18% to INR 401.03 Cr from INR 341.61 Cr in FY23

Worker Profit Expenditure: Worker prices grew 11% to INR 120.62 Cr in FY24 from INR 108.53 Cr within the earlier yr. 

Promoting Bills: The startup spent INR 187.35 Cr on promoting and advertising through the fiscal beneath evaluation, a slight lower from INR 188.62 Cr within the earlier fiscal yr.