MrMed achieves record growth with 50% revenue surge in FY24

New Delhi: MrMed, India’s online platform for specialty medicines, has recorded remarkable financial growth for the fiscal year 2024 (FY24). The company has successfully brought down its overall loss by 31% to Rs 1.5 crore, reflecting a notable improvement from the previous year.

In FY24, MrMed’s revenue has increased to Rs 24 crores, marking an impressive 50% growth from FY23. This progress underscores the rising demand for affordable specialty medicines and the company’s ability to meet the needs of patients across India.

The platform recorded a significant 177% increase in gross margins, reflecting operational efficiencies and improved product offerings.

The company’s financial growth has hugely improved, with total losses reducing by 31% compared to the previous fiscal year. Additionally, the percentage of losses has decreased by 50%, showcasing MrMed’s strategic efforts to enhance costs and drive profitability.

Devashish Singh, Co-Founder & CEO at MrMed, expressed his thoughts on the company’s recent growth, “We need to thank our customers for their confidence and trust in us. In fact, we do not have customers, we have advocates. It is because of them and the good word of mouth that we receive, we are able to grow organically without excessive marketing. Each milestone we reach, and every financial goal we accomplish represents not just a victory for MrMed but also one for our patients and caregivers, who value our services.”

“We understand the challenges of obtaining timely access to medications while facing serious health issues like cancer, late stage chronic diseases, or viral infections like HIV and hepatitis, and we are dedicated to ensuring they receive the care they need on time. The growth we’ve experienced this year is not solely about our own success; it signifies our commitment to making a meaningful impact in people’s lives, which motivates us every day,” added Singh.