DailyRounds, a healthcare-focused edtech platform, reported a 14% increase in profit for the fiscal year ending March 2024 (FY24), with a Profit After Tax (PAT) of ₹320 crore, up from ₹281 crore in FY23. The company’s operating revenue grew by 10.3%, reaching ₹568 crore in FY24 compared to ₹515 crore in the previous fiscal year.
📊 Financial Highlights of FY24
- Operating Revenue: ₹568 crore (10.3% YoY growth)
- Profit After Tax (PAT): ₹320 crore (14% YoY growth)
- Total Revenue (including non-operating income): ₹657 crore
- EBITDA Margin: 67.73%
- Return on Capital Employed (ROCE): 34.39%
- Operating Expense per ₹1 Revenue: ₹0.40
- Total Expenditure: ₹225 crore (up from ₹187 crore in FY23)
- Cash and Bank Balances: ₹712 crore
🎯 Revenue Streams
DailyRounds’ flagship product, Marrow, an online learning platform for medical students and professionals, was the primary revenue driver, contributing 93% of the operating revenue, amounting to ₹528 crore. The remaining revenue came from book sales and market research services. Additionally, the company earned ₹89 crore in non-operating income from interest on deposits and investments.
💼 Expense Breakdown
The largest expenditure was on employee benefits, totaling ₹68 crore. This was followed by legal and professional services at ₹64 crore. Other significant expenses included web hosting, payment gateways, advertising, business promotion, and overheads, contributing to the total expenditure of ₹225 crore in FY24, up from ₹187 crore in FY23.
🔄 Year-on-Year Comparison
| Metric | FY23 | FY24 | YoY Growth |
|---|---|---|---|
| Operating Revenue | ₹515 crore | ₹568 crore | 10.3% |
| Profit After Tax (PAT) | ₹281 crore | ₹320 crore | 14% |
| Total Expenditure | ₹187 crore | ₹225 crore | 20.3% |
| EBITDA Margin | 69% | 67.73% | -1.27% |
| ROCE | 43% | 34.39% | -8.61% |
Note: The slight decrease in EBITDA Margin and ROCE indicates increased expenditure, but the company maintained strong profitability.
🔍 Company Overview
Founded in 2015 and acquired by Japanese healthtech firm M3 in 2019, DailyRounds has established itself as a leading edtech platform in the healthcare sector. Its primary offering, Marrow, provides medical students and professionals with video lectures, question banks, and test series. The platform has a significant user base, with over 500,000 active users in India and more than 1 million worldwide. Entrackr
📈 Future Outlook
DailyRounds’ consistent growth in revenue and profit, coupled with its strong cash reserves, positions the company well for future expansion. The continued success of Marrow and the company’s focus on delivering quality educational content suggest a positive trajectory in the coming years.
