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Practo's Ambitious Plans Profitability in Sight and IPO on the Horizon
Practo, backed by Tencent, sets sights on profitability in the next fiscal year and plans an imminent IPO.
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Tencent-backed healthcare and diagnostics app Practo is gearing up for a transformative fiscal year ahead, aiming for profitability and eyeing an initial public offering (IPO) soon. Co-founder and CEO Shashank ND shared the company's strategies and vision for the future.
In an exclusive interview with PTI, Shashank expressed Practo's commitment to achieving profitability in the upcoming fiscal year. The company, already experiencing positive cash flow, is poised for substantial growth in the current year. Shashank noted that their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is expected to show significant improvement compared to the previous year, moving closer to break-even.
Practo, established in 2008, has been a pioneer in connecting doctors with patients, revolutionizing healthcare services through its platform. As part of its growth strategy, Practo aims to expand its footprint in smaller cities and towns, acknowledging the untapped potential in these areas. The focus on regional penetration aligns with the company's goal of making quality healthcare accessible to a broader population.
A key element of Practo's expansion plan involves harnessing the power of artificial intelligence (AI) to analyze data comprehensively. By integrating AI into their platform, Practo intends to provide more accurate and insightful analyses, ultimately improving healthcare outcomes for users. The incorporation of advanced technologies aligns with the broader industry trend of utilizing data-driven solutions for better patient care.
Practo's aspiration to go public is a significant milestone in its journey. Shashank indicated that the company is actively considering an IPO, marking a strategic move to secure additional resources for its ambitious plans. Going public not only brings financial opportunities but also enhances Practo's visibility and credibility in the market.
The emphasis on smaller cities and towns reflects Practo's commitment to addressing healthcare disparities across different regions. By extending its services to underserved areas, the platform aims to bridge gaps in healthcare accessibility and contribute to a more inclusive healthcare ecosystem.
