A B2B healthtech platform named CitiusTech has shown a steady growth throughout the past few years. Recently, the company declared that,it has recorded $500 million revenue during FY24 which seems plausible considering its FY23 numbers.

According to the company’s consolidated financial statements filed by the Registrar of Companies (RoC) shows that the company’s revenue from operation grew up by 40% to 3,499 crore in FY23 from 2,499 in FY22.

The company CitiusTech  is a health-tech solution and service provider, which delivers consulting, engineering, manufacturing and data oriented softwares to large hospitals and healthcare organizations. The company’s revenue from its software development, implementation, and support services constitutes 97% of the company’s total revenue, while the rest part of the revenue comes from the sale and maintenance of software licenses.

CitiusTech also secured 63 crore from non-operating activities which helped it post 3,561 crore in total revenue during FY23. Just like the other technology driven companies their employee benefits formed 74% of the overall expenditure. This cost grew by 42.5% to 2,137 crore in FY23 from 1,500 crore in FY22.

The firm’s expenditure on traveling, legal, training, consultancy, advertising, software cum licensing, and other overheads covered its overall cost up by 38% to 2,873 crore in FY23 from 2,082 crore in FY22.

The significant rise in its employee benefits and the consultancy led profit was declined by 84.7% to 56 crore in FY23 from 365 crore in FY22. The company’s ROCE and EBITDA margins stood at 6% and 6.5%, respectively. On a unit level, it spent 0.82 to earn a rupee in FY23.