Pristyn Care, a healthcare service provider, has reported a significant increase in its consolidated total income in FY23, which rose to Rs 494 crore, a 46% jump from Rs 339 crore in FY22.
The growth is accompanied by a 5% improvement in EBITDA margins.
Strategic focus on profitability
The company is on a strategic path to balance revenue growth with enhanced profitability. It aims to cut its burn rate by 50% in the current fiscal year. To do this, the company plans to make substantial reductions in marketing expenses and optimization of personnel costs.
Despite an EBITDA loss of Rs 393 crore in FY23, Pristyn Care is optimistic about reducing this loss to Rs 199 crore in FY24, even as revenue is expected to double.
Expansion and diversification
Pristyn Care has expanded its services to include new surgical categories such as dental procedures, knee replacement, and weight loss surgeries.
The startup also broadened existing categories like ophthalmology, gynecology, and urology. Operating in over 40 cities in India, it recently extended its reach to Bangladesh. Additionally, Pristyn Care launched its fit-tech brand, BeatXP, which reported a total income of Rs 109 crore in FY23, marking a 248% increase from FY22.
Operational efficiency and governance
The company has focused on operational efficiency, with over 200 clinics, 700 hospitals, and more than 400 in-house super-specialty surgeons.
Pristyn Care has also taken steps to improve its governance and IT environment, aligning controls with industry best practices. A global accounting firm has been appointed to reassess and recommend improvements to the control framework.
Pristyn Care aims to surpass Rs 1,000 crore in revenue in FY24 and is also working towards achieving EBITDA profitability by FY25.
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Source: Indian Startup News
