PharmEasy halves loss to Rs 2,533 crore in FY24, revenue shrinks 15 per cent

After a year of cost-cutting measures, online pharmacy startup Pharmeasy has reduced its losses by 51% to Rs 2,533.5 crore in FY24, primarily due to lower goodwill impairment charges and an overall decline in expenses.

In FY23, the Mumbai-based company’s losses stood at Rs 5,211.7 crore. However, revenue from operations shrank 14.8% to Rs 5,664 crore in FY24, and it struggled to gain back its market share due to competition from players such as Tata 1mg, Reliance-owned Netmeds, and Apollo 24×7, among others.