India: Healthcare startup Practo’s loss widens to $9.5m in FY 2016

Shashank ND, Co-Founder and CEO of Practo

Healthcare start-up Practo Technologies Pvt. Ltd recorded a five-fold increase in revenue in the fiscal year ended 31 March, while its loss widened almost five times, documents filed with the Registrar of Companies show.

Practo clocked revenue of Rs165.14 crore for the year ended 31 March, 2016, as against Rs29.73 crore a year earlier. Net sales stood at Rs156 crore. Loss climbed to Rs64.61 crore from Rs12.85 crore a year earlier.

About Rs133 crore of sales came from Practo Pte, the Singapore-based company that holds about a 93% stake in Practo Technologies, for providing “software development and support services”, as against Rs23 crore a year earlier. This implies that actual business revenue grew four times to Rs23 crore as against Rs6 crore a year earlier.

Practo did not respond to an email seeking comment on the financials and its revenue arrangement with the Singapore entity.

Practo Technologies is the most well-funded homegrown healthcare technology start-up, which has raised about $124 million from the likes of China’s Tencent, Belgian venture capital firm Sofina, Google Capital, Altimeter Capital, Yuri Milner, founder of Russian venture capital firm DST Global, Sequoia Capital and Matrix Partners.

During its last fund raise in August 2015, the company was valued at about $500 million.

Also Read: 

India: Practo, OYO, Grofers will have to show path to profitability as they seek to enter coveted club of unicorns

Exclusive: Health-tech startup Practo eyes more acquisitions, aims at profits in 2017

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.