Diagnostic startup Healthians has reported a loss of ₹45 crore for the financial year ending March 2024 (FY24) even though its revenue grew by 8% compared to the previous year. The company earned ₹243 crore in FY24 and it was up from ₹224 crore in FY23. However, the young company is showing signs of progress by achieving EBITDA breakeven due to tighter spending control.
Healthians is led Deepak Sahni and he reduced the employee-related costs significantly in recent years. The expenses were earlier 40% of the total spending, but it dropped from ₹136 crore in FY23 to ₹120 crore in FY24. Running a diagnostic platform is not cheap and the startup spent ₹1.23 to generate every rupee of revenue last year.
Healthians mostly earn the income from its core diagnostic services as the laboratories generated ₹240.5 crore in FY24. About 90% of the revenue comes from these services and the remaining is earned through sales of health-related products including supplements.
Its revenue growth is encouraging as the overall expenses of ₹298 crore in FY24 paint a different picture. The costs related to materials, rent, technology and other overheads remain a challenge.
Healthians has secured about $80 million in funding to date and it is basically backed by investors like WestBridge Capital. The high costs are associated with running such operations and this works as a roadblock to profitability.
The journey of Healthians reflects the reality faced by many startups and it is to balance growth with financial discipline in a fiercely competitive market.
Healthians seems determined to stay the course now and navigating the complexities of the healthcare sector while keeping an eye on the future.
