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Pristyn Care Reports 33% Revenue Growth, Achieves ₹601 Crore in FY24

• ByStartupStory     |    December 30, 2024

Pristyn Care, a prominent surgery-focused healthcare chain, has posted an impressive revenue growth of 33% for the fiscal year 2023-24, with total revenue surpassing ₹601 crore. The company, which is backed by Tiger Global, continues to expand its footprint while maintaining a stable loss margin, reflecting its robust business model in the competitive healthcare sector.

As per the consolidated financial statements filed with the Registrar of Companies, Pristyn Care’s revenue from operations grew by 32.7%, climbing from ₹453 crore in FY23 to ₹601 crore in FY24. The healthcare provider operates with a full-stack model, combining its own clinics with partnerships across over 200 third-party hospitals in more than 30 cities. This setup allows Pristyn Care to serve a large patient base efficiently.

Healthcare services accounted for 57.5% of the company’s operational revenue, generating ₹346 crore. Additionally, its direct-to-consumer (D2C) products, led by its brand beatXp, saw revenue grow 2.5 times to ₹267 crore in FY24. Non-operating activities contributed ₹31 crore, bringing the company’s overall revenue to ₹632 crore, up from ₹494 crore in FY23.

The company is optimistic about its future. “We are expecting a 35% growth in our surgery business for FY25. Our EBITDA levels are anticipated to improve by 60%, driven by operational efficiency and expanding service offerings. Additionally, Pristyn Care is gearing up for an IPO within the next three years,” stated the company.

Cost Management and Operational Challenges

While achieving growth, Pristyn Care has kept its losses steady. The company reported a marginally lower loss of ₹381 crore in FY24 compared to ₹383 crore in FY23. This translates to a cost of ₹1.69 for every rupee of operating revenue, highlighting the challenges of profitability in the healthcare sector.

Total expenses rose to ₹1,014 crore in FY24 from ₹877 crore in FY23, driven by operational costs, including doctor fees, consumables, and other overheads. D2C products accounted for a significant portion of these expenses, with device sales costs rising from ₹75 crore in FY23 to ₹253 crore in FY24.

However, the company achieved some cost savings, with advertisement expenses dropping by 21% to ₹183 crore and employee benefit costs decreasing by 3.5% to ₹192 crore.

Future Ambitions

Looking ahead, Pristyn Care is focusing on growth in its core surgery business, while also improving operational efficiency. “We are expanding our service portfolio while maintaining a strong emphasis on controlling costs. Our aim is to solidify our leadership in the healthcare sector and prepare for an IPO in the near future,” added the company.

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