14th June 2024
Omnichannel vitamin merchandise retailer HealthKart reported a 69.5% year-on-year rise in working income to Rs 832.48 crore in the course of the fiscal 12 months ended March 31, whereas its web loss practically halved to Rs 164.71 crore.

Nevertheless, the Gurugram-based firm’s complete bills grew solely 21.5% in the course of the 12 months to Rs 1,016.5 crore – pointing to an enchancment in its unit economics.

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The most important chunk of bills got here from uncooked materials prices, which elevated to Rs 341.6 crore in FY23, in comparison with Rs 197.four crore a 12 months in the past, in response to the corporate’s regulatory filings sourced from enterprise intelligence platform Tofler.
HealthKart’s promoting and promotional bills climbed 56% year-on-year to Rs 188.63 crore, because it spent closely on brand-building and advertising in the course of the 12 months, after it secured recent funding throughout FY23.

In December final 12 months, HealthKart raised $135 million (round Rs 1,100 crore) in its Collection H funding spherical, led by Singapore’s sovereign fund Temasek. Mumbai-based A91 Companions and Kae Capital additionally participated within the spherical.

Previous to that, the corporate had raised $25 million in its Collection G spherical in Could 2019 from funding agency Sofina.

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HealthKart assumed its present avatar in 2015 after the unique model HealthKart Plus noticed its prescribed drugs section being hived off into 1mg, at present backed by the Tata Group.The corporate was initially based in 2011 by Prashant Tandon and Sameer Maheshwari, who now head 1mg and HealthKart, respectively.

On the time of the corporate’s fundraise final 12 months, Maheshwari had instructed ET that HealthKart would use funds to strengthen its model by going deeper into allied classes and growing its distribution community.

HealthKart has round 250 bodily shops now, up from 140 shops final 12 months. It additionally sells its merchandise by way of its on-line channel and third-party ecommerce marketplaces corresponding to Amazon and Flipkart.

The corporate owns eight manufacturers within the dietary merchandise house, together with MuscleBlaze, TrueBasics, HKVitals, bGreen, Nouriza, Gritzo and The Protein Zone.

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