EzeRx registers a 167% growth in year-on-year net revenue
24/04/2024- EzeRx, a leading innovator in non-invasive diagnostic solutions, has announced its financial results for the fiscal year ending March 31, 2023. The company showcased extraordinary performance, driven by the widespread adoption of its flagship product, EzeCheck, across government agencies, educational institutions, hospitals, and NGOs.
The financial highlights were impressive, with the company reporting a substantial 167% year-over-year growth in net revenue, which grew from INR 2.56 crore in FY 21–22 to INR 6.85 crore in FY 22–23. This robust performance reflects the growing trust and adoption of EzeCheck among EzeRx’s diverse range of government and institutional partners.
Mr Partha Pratim Das Mahapatra, Founder and CEO of EzeRx said, “This milestone underscores the market’s shift towards non-invasive diagnostics and the critical role that innovative technology can play in improving healthcare accessibility and outcomes. As we move forward, we remain committed to leveraging technology to improve healthcare outcomes and drive greater accessibility to quality diagnostic services, especially in underserved communities.”
EzeCheck’s ability to provide rapid, accurate, and cost-effective diagnoses has made it an increasingly sought-after solution, particularly in settings where traditional diagnostic methods may be inaccessible or unaffordable. This widespread adoption has been a key driver of EzeRx’s financial success.
Mr Abinash Parida Principal Financial Adviser of EzeRx said, “Our exceptional financial results are a testament to the unwavering dedication and innovative spirit of the EzeRx team. We have relentlessly driven to redefine the diagnostic landscape, and this 167% growth in net revenue is a powerful validation of our efforts. We attribute this to the popularity of EzeCheck, the hard work of our employees and the support extended by the medical community. “
The company plans to utilise its future profits to further strengthen its market position and drive innovation. This includes investing INR 1.71 crore in clinical trials, allocating INR 3.7 crore to research and development, dedicating INR 1.62 crore towards regulatory certifications, and committing INR 3.32 crore to new market expansion.
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