Bengaluru-based home healthcare services provider Portea reported a marked improvement in its financial performance in the fiscal year ended March 2025, as steady revenue growth coupled with controlled expenses helped the company halve its losses.
According to its consolidated financial statements filed with the Registrar of Companies (RoC), Portea’s revenue from operations grew 15% year-on-year to ₹160 crore in FY25, up from ₹139 crore in FY24.
At-Home Services Remain Core Revenue Driver
Portea offers a wide range of at-home healthcare services, including nursing, physiotherapy, medical equipment rentals, attendant care, lab tests, doctor consultations, and specialised care.
Revenue from services remained the largest contributor, accounting for 59% of operating income. This segment grew 16% YoY to ₹95 crore in FY25.
Meanwhile, product sales, which include oxygen concentrators, BiPAP machines, and nebulisers, increased 14% to ₹56 crore during the year.
Expenses Held Flat Despite Growth
On the cost side, Portea maintained tight control over expenditure.
- Employee benefit expenses declined 4.5% to ₹52.5 crore
- Consultancy costs increased 7% to ₹44 crore
- Cost of materials consumed rose 21% to ₹52 crore
- Advertising expenses grew 25% to ₹7.5 crore
Other overheads, including legal and professional charges and finance costs, together added over ₹30 crore. Overall, total expenses remained largely flat at ₹179 crore in FY25, despite the increase in scale.
Losses Cut Nearly in Half
With revenues rising and costs under control, Portea reduced its net loss by 49% to ₹19 crore in FY25, compared with a loss of ₹37 crore in FY24.
The company’s ROCE stood at -40.54%, while EBITDA margin improved to -6.88%, reflecting better operating leverage.
On a unit economics basis, Portea spent ₹1.12 to earn every rupee of operating revenue, a significant improvement from ₹1.29 in FY24.
Liquidity Position and Funding
As of March 2025, Portea reported cash and bank balances of ₹1 crore, while current assets stood at ₹68 crore.
According to disclosures, the company has raised nearly $123 million in funding to date, backed by investors such as Accel and Ventureast.
IPO Status
Portea had received SEBI approval in 2023 to launch a ₹1,000 crore initial public offering. However, the company has not taken further steps towards the listing since then. With improving unit economics and narrowing losses, investors will closely watch whether Portea revives its IPO plans in the coming periods.
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