Home / News / Tata 1mg FY22 revenue up 66% to 222 crore, net loss narrows. Details here

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)

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