API Holdings (Pharmeasy) Unlisted Shares
Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr
Business Standard
2 min read
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.
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.
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