Tata 1mg FY22 revenue up 66% to ₹222 crore, narrowing net loss. details here

Tata 1mg, online pharmacy of the Tata group, increased its revenues by 65.7% 222.10 crore in fiscal year 22 as its net loss decreased. Tata 1mg Reduced Net Loss 146.30 crore, according to data displayed by the Toffler business intelligence platform.

In fiscal 21, Tata 1mg’s operating revenues were 134.04 million. its net loss 281.41 million. His other income for the year ending March 31, 2021 was 24.14 million.

In fiscal year ’22, the company’s total revenue was 246.25 crore, up 44.19% compared to 170.78 crore which was recorded last year.

In financial year 22, the convenience commissions were recognized 23.15 crore of revenue e Rs 139.64 crore came from laboratory test receipts.

Tata 1mg is a leading digital consumer healthcare platform providing services such as online pharmacy, where it delivers medicines and home healthcare products from licensed pharmacies in over 1,000 cities.

It also provides diagnostic services from certified laboratories and online medical advice.

The company was incorporated on April 20, 2015. In August 2021, the company name was changed from “1MG Technologies Private Limited” to “Tata 1MG Technologies Private Limited” after Tata Digital Limited, a subsidiary of Tata Sons.

Tata 1mg competes in this segment with Netmeds, owned by Reliance Retail, and Amazon Pharmacy, among others.

(with the contribution of the agency)

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