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

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.