The company came out with better than expected results, wasn’t expecting this large GM improvement this soon in the business.
QoQ the revenue is up 6%, GMs moved from 7.6% to 10.6%. The company could be sitting on Inventory gains so I wouldn’t extrapolate the margins this soon for the coming quarters – very good if the margins continue in the same trajectory.
Company in the current presentation has published breakup of its revenue across multiple healthcare divisions, highlights from today’s concall:
- HealthBuddy Supply Chain ~ 77% revenue, flat QoQ up 68% YOY – This business is their legacy Healthbuddy business but also provides local supplies for Flipkart Health+ orders. If you put in Kolkata pincodes in Health+ you would see the default seller to be a HealthBuddy. I believe Flipkart business is the major growth enabler here over a large base YOY since B2C presence already existed under Sastasundar.com in WB.
- Retailer Shakti B2B – This business continued its growth momentum both QoQ and YoY
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