Digital healthcare platform MediBuddy delivered a steady performance in FY25, reporting operating revenue of ₹724.6 crore while significantly improving its bottom line. Even as growth moderated compared to the previous year, the company managed to narrow its losses by 37%, signalling stronger cost discipline and improving unit economics in India’s rapidly evolving digital health and D2C ecosystem.
After recording over 2X growth in FY24, FY25 marked a phase of consolidation for MediBuddy. Operating revenue grew 12.3% year-on-year from ₹645.4 crore in FY24 to ₹724.6 crore in FY25, according to financial statements filed with the Registrar of Companies. The bulk of this revenue—₹722 crore—came from MediBuddy’s core healthcare services, which include online and offline doctor consultations, medicine delivery, diagnostics, surgeries, and insurance-related offerings. Other operating income contributed ₹2.5 crore during the year.
In addition to operating revenue, MediBuddy earned ₹18.42 crore from non-operating sources such as interest on fixed deposits and investments, written-back liabilities, and miscellaneous income. This took the company’s total income to approximately ₹743 crore in FY25, reinforcing its scale among large consumer-facing digital health platforms in India.
On the cost side, MediBuddy showed meaningful progress in controlling expenses. Total expenditure remained largely flat at ₹879 crore, a notable achievement given continued investments in technology, safety, and scale. Cost of materials was the largest expense head, accounting for 38% of total costs at ₹333 crore. Employee benefit expenses increased marginally by 8% to ₹176.8 crore, including ₹6 crore in ESOP-related costs, reflecting controlled team expansion.
Sales payout expenses—which include commissions paid to selling agents—declined 7% year-on-year to ₹155.47 crore, highlighting improved efficiency in distribution and customer acquisition. The company spent ₹42.5 crore on safety and security and ₹32.5 crore on information technology, underscoring its continued focus on platform reliability and compliance. Other overheads, including advertising, legal and professional fees, depreciation, amortisation, and finance costs, together stood at ₹138.7 crore.
As a result of stable costs and rising revenue, MediBuddy reduced its net loss to ₹137 crore in FY25 from ₹215.7 crore in FY24—a 37% improvement. EBITDA performance also strengthened materially. The company’s EBITDA margin improved to -14.19% from -25.67% in the previous year, with EBITDA losses narrowing to ₹103 crore. On a unit economics basis, MediBuddy spent ₹1.21 to earn every rupee of operating revenue, indicating a gradual but clear move towards operating leverage.
The company closed FY25 with current assets of ₹395.2 crore, including cash and bank balances of ₹80 crore, providing it with a solid liquidity buffer to support future growth initiatives. To date, MediBuddy has raised over $190 million in funding. Its most recent round was an $18 million raise in August 2023 from existing investors Quadria Capital, Lightrock, and TEAMFund. The company had earlier strengthened its market position through its 2020 merger with DocsApp.
Operating in a competitive digital healthcare landscape, MediBuddy competes with platforms such as Practo, Tata 1mg, Lybrate (Pristyn Care), and mFine. With losses narrowing, margins improving, and revenues continuing to scale, MediBuddy’s FY25 performance reflects a maturing D2C healthcare business model—one increasingly focused on efficiency, sustainability, and a credible path toward profitability within India’s broader digital consumer ecosystem.
