CitiusTech’s revenue crosses Rs 3,500 Cr in FY23; profit tanks 85%

B2B health tech platform CitiusTech has grown steadily over the past few fiscal years. The company recently claimed that it clocked $500 million revenue during FY24 which seems plausible considering its FY23 numbers. CitiusTech’s revenue from operations grew 40% to Rs 3,499 crore in FY23 from Rs 2,499 in FY22, its consolidated financial statements filed with the Registrar of Companies (RoC) show. CitiusTech is a healthcare technology service and solutions provider which offers consulting, engineering, manufacturing and data oriented softwares to large hospitals and healthcare organizations. The sale of its software development, implementation, and support services comprised 97% of the company’s total revenue while the remaining income came from the sale and maintenance of software licenses. CitiusTech also made Rs 63 crore from non-operating activities which helped it post Rs 3,561 crore in total revenue during FY23. Similar to other technology-driven companies, its emplo