Tata 1mg FY22 revenue up 66% to ₹222 crore, net loss narrows. Details here
1 min read . Updated: 15 Sep 2022, 10:18 PM IST
- Tata 1mg's FY22 revenue rose 66 per cent to ₹222 crore and its net loss has narrowed
The revenue of Tata 1mg, Tata group-owned online pharmacy, rose 65.7 per cent to ₹222.10 crore in financial year ’22, while its net loss has narrowed. Tata 1mg’s net loss narrowed to ₹146.30 crore, as per the data sourced by business intelligence platform Tofler.
In financial year ’21, Tata 1mg's revenue from operations stood at ₹134.04 crore. Its net loss stood at ₹281.41 crore. Its other income for the financial year ended March 31, 2021, was ₹24.14 crore.
During financial year ’22, the company’s total income was at ₹246.25 crore by rising 44.19 per cent from ₹170.78 crore which was recorded in the previous year.
In FY22, facilitation fees accounted for ₹23.15 crore of revenue and ₹139.64 crore came from lab test receipts.
Tata 1mg is a leading digital consumer healthcare platform providing services such as e-pharmacy, where it delivers medicines and health products at home from licensed pharmacies in over 1,000 cities.
It also provides diagnostic services from certified labs and online doctor consultations.
The company was incorporated on 20 April, 2015. In August 2021, the company’s name was changed from '1MG Technologies Pvt Ltd' to 'Tata 1MG Technologies Pvt Ltd' after Tata Digital Ltd, an arm of Tata Sons.
Tata 1mg competes with Reliance Retail-owned Netmeds and Amazon Pharmacy, among others in the segment.
(With agency inputs)