Pharmacy retailer Pharmeasy is scripting a turnaround and has become operationally cash flow positive in April, in a sign that the company’s efforts at cutting expenses are beginning to bear some fruit, two people familiar with the development said.
In April, it eked out monthly adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) or a positive cash flow from operations in “double digit” crores, one of the people cited above said. This is the first time Pharmeasy has reported a positive cash flow, at least since the acquisition of Thyrocare Ltd it acquired 24 months back. However, this excludes the payment the company has to make each month to its lender Goldman Sachs and the company’s non-cash Esop expenses, the people cited above said.
In June 2021, Pharmeasy’s parent API Holdings acquired 66% stake in Thyrocare for ₹4,546 crore.
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