Netmeds revenue growth slows to 2% in FY26 as profit falls 4%
Reliance-backed Netmeds reported operating revenue of Rs 44.69 crore for the year ended March 2026, up from Rs 43.72 crore. Profit declined to Rs 5.53 crore. The company also recorded 19,895 consumer complaints in 2025, up from 17,440 in 2024.
The development
Netmeds grew operating revenue 2% to Rs 44.69 crore in FY26 from Rs 43.72 crore, while profit fell 4% to Rs 5.53 crore. Consumer complaints numbered 1.17 lakh over five years, including 19,895 in 2025 versus 17,440 in 2024.
The numbers
- 2%
- Rs 44.69 crore
- FY26
- March 2026
- Rs 43.72 crore
- 4%
- Rs 5.53 crore
- Rs 5.77 crore
- 2015
- 60%
- Rs 620 crore
- 2020
- Rs 1,034 crore
- 27%
- Rs 4.34 crore
- Rs 38.08 crore
- Rs 16.17 lakh
- Rs 89.4 lakh
- Rs 287 crore
- Rs 2,936 crore
- Rs 42.41 crore
- Rs 41.57 crore
- nearly 4%
- Rs 13.68 crore
- Rs 13.19 crore
- Rs 9.12 crore
- 12%
- Rs 10.34 crore
- Rs 4.76 crore
- Rs 4.69 crore
- 75%
- Rs 2.89 crore
- Rs 1.65 crore
- nearly 20 lakh
- 1.17 lakh
- 14%
- 19,895
- 2025
- 17,440
- 2024
Why it matters to operators and investors
For potential partners or acquirers, Netmeds’ slowing growth, declining profit and rising complaints are key areas for operational and commercial diligence.
What to watch next
- Whether revenue growth accelerates beyond low single digits in the next reported period.
- Whether profit stabilizes or declines further, and whether the company explains the change through marketing, fulfillment, or technology costs.
- Whether complaint counts or complaints per unit of sales begin to fall.
- Announcements of Reliance channel integration, logistics changes, or renewed customer-acquisition spending.
- Changes in competitive pricing or e-pharmacy regulation that could affect order volumes and operating costs.
- Expect management to emphasize operating discipline and selective spending rather than broad-based expansion.
- Watch for improvements to order fulfillment, complaint handling, and customer retention as potential priorities.
- Look for signs of closer integration with Reliance retail or digital channels; treat any growth push as a possible near-term cost to profit.
The counter-case
Netmeds' reported revenue growth of just 2% alongside a 4% profit decline suggests limited top-line momentum and pressure on profitability. The increase in consumer complaints adds a possible service-quality concern, though the figures alone do not establish its cause or impact.