HealthKart lost Rs 22.4 Cr to earn Rs 188.5 Cr in FY18

Omnichannel health products and services provider HealthKart has been making a steady growth in its segment.

Its latest RoC filings with MCA reveal how the company has performed financially in FY18.

The Sameer Maheshwari led company clocked a revenue of Rs 188.52 crore in FY18, a 56.3 per cent increase as compared to Rs 120.59 crore in FY17.

In this, the sale of self-manufactured nutrition and wellness products contributed Rs 176.16 crore (93.4 per cent), and the services like home delivery earned the company Rs 12.16 crore.

To earn this revenue, the company had doubled its advertisement and promotional expenses in the year from Rs 21.98 crore in FY17 to Rs 43.94 crore in FY18.

Overall expenses of the firm, however, showed a controlled growth of 27.5 per cent, up from Rs 166.42 crore to Rs 214.84 crore.

The revenue growth covered these increase in expenses to an extent that losses of the company reduced by 46.5 per cent, down from Rs 41.91 crore to Rs 22.41 crore by the end of March 2018.

The firm had picked up a funding round worth Rs 65 crore led by Kalysta Capital in July end of 2018.

The company also onboarded a new investor IIFL Alternate Asset Advisors, a part of IIFL Holdings in its recent Rs 85.9 crore round led by existing investor Sequoia Capital.

HealthKart competes with Neulife, HealthyWorld, Healthgenie, among others, in the Indian startup ecosystem.