homebusiness NewsAs pricing pressures ease, it's time to grow online diagnostics business profitably: Thyrocare
As pricing pressures ease, it's time to grow online diagnostics business profitably: Thyrocare
Aarogyam, Thyrocare's flagship brand, continues to be a major contributor, accounting for approximately 35-40% of the checkup business.
Rahul Guha, MD and CEO of Thyrocare Technologies is optimistic about the growth potential in the online diagnostic business, emphasizing the current favorable conditions for profitability.
According to Guha, the online diagnostic space has experienced a positive shift, with price pressures easing off. He highlighted that every online player has adopted more rational pricing strategies, particularly in the realm of online diagnostics. This, coupled with a clear path to profitability in the API business, has created an opportune moment for the industry to focus on growing the diagnostics business online in a profitable manner.
Guha noted that the online diagnostics business within the API group is showing significant profitability, leading to a commitment to further investments to fuel its growth. This positive financial outlook underscores the potential for sustained expansion in this segment.
Aarogyam, Thyrocare's flagship brand, continues to be a major contributor, accounting for approximately 35-40% of the checkup business. Meanwhile, Jaanch, a relatively new brand launched in June, has demonstrated impressive growth, already clocking ₹1 crore a month. Guha anticipates Jaanch to reach around ₹15 crore in sales by the end of the year, particularly due to its momentum during the fever season in August, September, and October.
Guha also shed light on the 'Her Check' package, a specialised offering targeted at gynaecologists to enhance women's health management. While acknowledging that scaling up 'Her Check' will take time, he expressed hope for increased traction in the coming year. Despite the gradual progress expected for 'Her Check', Guha expressed satisfaction with the pace of growth in Aarogyam and the adoption rate of Jaanch.
Thyrocare Technologies has shares gained more than 14% in the past month. The company's market capitalisation currently stands at ₹3,505.56 crore.
For more, watch the accompanying video
(Edited by : Shweta Mungre)
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