Friday, February 23rd, 2024

Opportunity for bumper earnings is coming, this health sector company will bring IPO


Photo:FILE IPO

health care And diagnostics company Practo plans to turn profitable in the next financial year and launch its initial public offering (IPO) soon. Shashank ND, co-founder and chief executive officer of the company, gave this information. Practo is preparing to expand its presence in smaller cities and towns as well as use artificial intelligence (AI) for better data analysis. Shashank said his startup is already cash flow positive and is on track to make it profitable in the next financial year.

Continuous increase in company’s earnings

He said, “We will grow at healthy margins this year. Our pre-tax earnings (Ebitda) will have improved dramatically compared to last year. We will be close to ‘break-even’ this year and next year we will Will be able to make really significant profits.” Shashank said the company is also planning to expand its physical presence in primary and secondary healthcare through Practo branded clinics. Along with this, Practo also plans to launch an IPO.

Work to connect patients on digital platform

He said, “We would like to go among the people. I cannot give any specific timeline for this, but it will happen soon.” Established in 2008, Practo connects doctors to patients on its digital platform and offers a range of ancillary services such as telemedicine. Practo’s income from diagnostic and consulting services accounts for 50 percent of its total operating revenue. The rest of the revenue comes from subscription services, software sales, and maintenance of doctors and clinics. Its loss halved to Rs 93.68 crore in the financial year 2022-23.

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