After recording a 42% year-on-year growth in FY23, healthcare-focused edtech platform DailyRounds experienced a moderate slowdown in FY24, with operating revenue increasing by just 10.3%. However, the Microsoft Ventures-backed firm’s profit surpassed Rs 300 crore in the same period. Dailyround’s operation revenue grew to Rs 568 crore in the fiscal year ending March 2024 from Rs 515 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. DailyRounds’ flagship product, Marrow, is an online learning platform where medical students and practitioners can subscribe to various plans, including video lectures, question banks, and test series. These plans, ranging from 3 to 36 months, accounted for 93% of the operating revenue, which rose to Rs 528 crore in FY24. The remaining operating income came from book sales to students under specific plans and from market research services. The company also earned Rs 89 crore in non-operating income from interest on deposits and investments, taking its total revenue to Rs 657 crore in FY24. DailyRounds spent Rs 68 crore on employee benefits, making it the company’s largest cost center, followed by legal and professional services, which accounted for Rs 64 crore in FY24.

Web hosting, payment gateways, advertising, business promotion, and other overheads pushed the total expenditure to Rs 225 crore in FY24 from Rs 187 crore in FY23.The year-on-year growth in scale, combined with controlled expenditure, helped DailyRounds post a 14% increase in profits to Rs 320 crore in FY24, compared to Rs 281 crore in FY23. Its ROCE and EBITDA margin stood at 34.39% and 67.73%, respectively, during the same fiscal year. At the unit level, it spent Rs 0.40 to earn a rupee of operating revenue. By the end of FY24, DailyRounds’ total current assets stood at Rs 778 crore, including cash and bank balances of Rs 712 crore.

ABOUT DAILY ROUNDS

DailyRounds has been co-founded by Dr. Deepu Sebin, Priyank Choubey, and Nimmi Cherian in 2015. DailyRouds. is a mobile app exclusively for Doctors. Medical Schools, Physician & Surgeon societies and individual Doctors can publish clinical cases, articles and images after peer review. The app offers doctor analytics, sentiments and sponsored case studies for the pharma and medical devices industry. The network of Doctors created can beleveraged to build EHR, Doctor networking and many other healthcare solutions.