Health-tech firm Medlife achieves Rs 100 crore revenue milestone in September

Medlife, which owns and operates the eponymous online pharmacy platform, has reached Rs 100 crore in revenue for September. The health-tech company is also on track to break even on a unit economics basis over the next 6-8 months.

Ananth Narayanan, Chief Executive of Medlife, said, “We are on a very good growth trajectory, north of 8%-9% month-on-month growth. We hit a milestone of Rs 100 crore, which we feel very good about, having also served 500,000 customers and recorded about 800,000 deliveries in September.”

The Rs 100 crore revenue milestone was achieved on the back of strong financials reported across the board by India’s top four online pharmacies, Medlife, PharmEasy, Netmeds and 1MG, for the financial year ended March 31, 2019.

“We are also on track to become unit economics breakeven over the next six to eight months. Every month, we have improved it by over 1%. This combination of getting 8% growth, improved unit economics and improved consumer experience, is very difficult to pull off all together,” Narayanan stated.

Presently, Medlife is doing upwards of 25,000 orders daily, with an average order value of Rs 1,400.