API Holdings, the parent company of PharmEasy, reduced its consolidated net loss by 67% to ₹520 crore in the fiscal year ended March 2026 (FY26), down from ₹1,572 crore the previous year. The company’s operating revenue grew 12.7% year-on-year to ₹6,618.5 crore in FY26, driven by improved customer experience and higher-value segments, according to inc42.com.
The company attributed the improvement to a focus on customer experience, capacity utilisation, increasing wallet share, and leveraging digital capabilities. API Holdings also improved margins by concentrating on higher-margin products, especially private label brands, and optimising discounts in its B2R business. Total revenue including other income stood at ₹6,689.2 crore. Despite the progress, the company reported a loss before tax of ₹456.1 crore in FY26.
API Holdings’ consolidated expenses declined slightly by 0.9% to ₹7,146.7 crore in FY26. Its B2B business grew 8.2% year-on-year to ₹1,006 crore in revenue and turned EBITDA-positive at ₹70 lakh. PharmEasy’s B2C business generated ₹348 crore in revenue, with EBITDA losses narrowing to ₹17 crore. Thyrocare, another subsidiary, reported 24% revenue growth to ₹240 crore, processing 5.4 million patients and conducting 55.2 million tests during the year.
In the first quarter of FY27, API Holdings reported a 10% year-on-year increase in revenue to ₹1,754 crore and EBITDA rose to ₹39.3 crore. Gross margin improved to 21.4% from 19.9% in FY26, while EBITDA margin reached 2.2%, indicating continued operational improvement.