PharmEasy Parent Narrows Q1 Loss as Revenue Grows 10% YoY

PharmEasy parent API Holdings has reported a significant improvement in its Q1FY27 performance, with its net loss narrowing to ₹29.6 crore from ₹145.4 crore in the same quarter last year. Revenue, meanwhile, increased 10% YoY to ₹1,754 crore. What stands out to me is that the improvement is not coming from revenue growth alone. The company has been tightening costs and focusing on debt reduction. EBITDA for the quarter stood at ₹39.3 crore, compared with an EBITDA loss of ₹12.8 crore a year ago. The balance sheet improvement is another important development. API Holdings said it had repaid ₹1,050 crore of outstanding debt after years of pressure on its finances following the acquisition of diagnostics chain Thyrocare. PharmEasy’s revenue grew 10% to ₹348 crore, while EBITDA loss narrowed sharply to ₹17 crore from ₹21 crore last year. The B2B business also reported 8% YoY revenue growth to ₹1,005.6 crore. In my view, narrowing losses along with positive EBITDA and debt reduction is a meaningful improvement. However, I would still focus on whether the company can sustain this progress over the next few quarters rather than judging the turnaround from one quarter alone.