Medlife, run by Alkem Laboratories, saw a healthy revenue growth for the year ended March 31, 2019 along with almost equally high losses. The company’s revenue touched Rs. 363 crore, the losses were pegged at Rs. 404 crore.
The company attributes the high loss to advertising expenditure shooting up to Rs. 128 crore from Rs. 35 crore a year earlier and employee expenditure / benefits nearly doubling to Rs. 107 crore during the same period.
In August 2019, the company had appointed former Myntra CEO Ananth Narayanan as CEO and co-founder, with a mandate to head day-today operations, raise funds and oversee mergers and acquisitions.