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  3. Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

31 Jan 2024

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Key Takeaways

  • Financial Rebound:

    • Despite the net loss increase, the successful rights issue marks Pharmeasy’s financial rebound.

  • Operational Resilience:

    • H1 2023-24 profitability signals operational resilience and recovery.

  • Investor Confidence:

    • Prosus views Pharmeasy as an underperformer but maintains confidence, affirming long-term investment.

  • Financial Rebound:

    • Despite the net loss increase, the successful rights issue marks Pharmeasy’s financial rebound.

  • Operational Resilience:

    • H1 2023-24 profitability signals operational resilience and recovery.

  • Investor Confidence:

    • Prosus views Pharmeasy as an underperformer but maintains confidence, affirming long-term investment.

pharmeasy unlisted shares

API Holdings (Pharmeasy)

-8.09%

Expert Analysis

Records Net Loss Increase, but Successful Rights Issue Signals Financial Rebound and Operational Recovery

Expert Analysis:

  • Pharmeasy’s parent, API Holdings, records a 31% YoY net loss increase, reaching Rs 5,212 crore in FY23.

  • Revenue grows by 16% to Rs 6,644 crore, showcasing positive business momentum.

  • Expenses rise by 6% in FY23, staff cost fell 12%, advertising and promotional expenses drop by half.

  • Pharmeasy loses market leader position post-2022 cash crunch but rebounds with a successful Rs 3,500 crore rights issue.

  • Co-founder Dhaval Shah announces H1 2023-24 profitability, signaling operational recovery.

Publisher:Business Standard