HealthKart, a health and nutrition brand, recently secured $153 million in one of the largest funding rounds of 2024. This secondary round, led by ChrysCapital and Motilal Oswal Alternates, comes after a strong turnaround for the company in the fiscal year ending March 2024. Based in Gurugram, HealthKart achieved over 1,000 crores in revenue for FY24, reporting a profit of more than Rs 36 crore, a significant improvement from a loss of 164 crore in FY23.

According to the company’s consolidated financial statement from the Registrar of Companies (RoC), HealthKart’s revenue from operations increased by 22.6% to 1,021 crore in FY24. Overall, its total revenue rose by 22.7%, reaching 1,068.9 crore compared to Rs 851.8 crore in the previous fiscal year.

HealthKart manufactures and owns eight nutritional brands, including well-known supplement brands like MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, Nouriza, and Gritzo.

In FY24, product sales accounted for 92.6% of total revenue, which grew by 22.6% to 990.3 crore. Overall, HealthKart's total expenses increased slightly by 1.5% to 1,032.2 crore during the last fiscal year.

Notably, non-operating revenue surged 2.4 times to 48 crores in the last fiscal year, up from 19.4 crore in FY23. Revenue from services also saw a rise of 23.9%, reaching 30.6 crore. On the expense side, the cost of materials remained the largest expense, increasing by 14.9% to 494.5 crore in FY24.

Advertising expenses remained stable at 188.8 crore, while other expenses totaled 228.3 crore in FY24. Employee benefit expenses rose by 11.2% to 120.6 crore, which includes 9.4 crore attributed to ESOP costs.