Results · Healthcare & Life Sciences

Redcliffe Labs narrows losses in FY24

By Startup Enthusiast · 10 December 2024

What they do

Redcliffe Labs operates a network of pathology and radiology laboratories across India

It reported FY24 revenue of Rs 348 crore, up 11%, and cut losses by 28% to Rs 250 crore

The company spent Rs 1.6 to earn every rupee, with EBITDA margin at -57.55%

Redcliffe Labs reported its FY24 financial results.
Revenue from operations rose 11% to Rs 348.38 crore from Rs 313.86 crore in FY23.
Total income, including other income, crossed Rs 353 crore.
Losses narrowed 28% to Rs 250 crore from Rs 345 crore in the previous year.
Advertising costs fell 45% to Rs 65.38 crore, and material costs dropped 15% to Rs 106.31 crore.
Laboratory test charges increased 62.2%, and depreciation costs grew three times.
Total expenses declined 14% to Rs 556.16 crore from Rs 647.30 crore.
The company spent Rs 1.6 to earn every rupee, with an EBITDA margin of -57.55%.

The diagnostics category faces growth challenges despite a larger overall market than before 2020.
Competitors like Tata 1mg reported Rs 1,968 crore revenue in FY24, while Healthians achieved EBITDA profitability on Rs 243 crore revenue.
Thyrocare posted a 20% revenue jump to Rs 177.4 crore in Q2 FY25 with a profit of Rs 26.4 crore.
Redcliffe Labs recently secured $42 million in Series C funding and acquired Celara Diagnostics for about $7 million.

Redcliffe Labs operates a network of self-owned certified labs and collection centres for pathology and radiology testing.
It offers health checkup packages, smart reports with colour-coded insights, expert consultation, AI assistance, and diet plans.
Services include home sample collection, temperature-controlled sample transfer, and MD pathologist-verified reports.
The company has a she-centric diagnostic platform called Femcliffe Health Packages.
It also offers GeneCliffe tests for DNA, chromosome, and protein insights, and HealthEx curated by genetic experts.
The website claims 1 crore+ lives touched, 80+ self-owned certified labs, 2,000+ collection centres, and 1,500+ trained phlebotomists.

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