The company posted a net profit of Rs 37 crore for the year ended March, against a loss of Rs 165 crore in FY23.
The Gurugram-based company reported a 23% year-on-year increase in operating revenue at Rs 1,021 crore from Rs 832 crore, according to its financial statements sourced from Tofler.
Its non-operating revenue grew to Rs 48 crore from Rs 19 crore in FY23. It reported a total revenue of Rs 1,069 crore in FY24.
Revenue from sales of products contributed Rs 990 crore in FY24, compared to Rs 808 crore a year ago. Revenue from sale of services was Rs 31 crore, up from Rs 25 crore. Advertising and promotional expenses were the same as last year at Rs 189 crore.
Total expenses rose slightly to Rs 1,032 crore from Rs 1,016 crore. It spent Rs 401 crore on cost of materials consumed and Rs 121 crore on employee benefits, while incurring other expenses of Rs 384 crore.
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The company’s miscellaneous expenses came down to Rs 36 crore from Rs 123 crore in FY23. This comprises contractual labour expenses, collection charges, exchange difference, miscellaneous expenses and net loss on remeasurement of financial liability designated at fair value through profit or loss (FVTPL). Healthkart recently raised $153 million in a funding round led by ChrysCapital and Motilal Oswal Alternates. It also saw early investor Peak XV Partners make a complete exit. This also included an Esop buyback of Rs 55 crore ($6.5 million) – the first-ever such exercise at the firm.
Healthkart owns multiple digital-first nutrition brands including MuscleBlaze, HKVitals and Gritzo. The startup has over 200 stores in 90 cities across India.
The company was founded in 2011 by Prashant Tandon and Sameer Maheshwari. Tandon currently runs Tata Digital-owned epharmacy platform 1mg.