Netmeds FY26 revenue growth stalls at 2%
The move
Reliance Industries-backed Netmeds saw its growth stall in FY26, with operating revenue rising 2% to Rs 44.69 crore from Rs 43.72 crore in the previous fiscal year. The fiscal year ended in March 2026.
Profit declined 4% to Rs 5.53 crore from Rs 5.77 crore, owing to muted revenue growth and a marginal rise in expenses.
What Netmeds does
Founded by Pradeep Dadha in 2015, Netmeds started as an e-pharmacy retailer. It also sells pharmaceutical and over-the-counter products to retail customers through offline stores.
The company earns revenue from business consultancy, technical services and related advisory and support services. It also offers agency services related to doctor consultations, diagnostics and customer subscriptions.
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Revenue and ownership
Revenue from the sale of products rose 27% to Rs 5.53 crore in FY26 from Rs 4.34 crore a year earlier, while revenue from the sale of services declined marginally to Rs 38.08 crore.
Netmeds competes with Tata Digital-backed Tata 1mg, PharmEasy and Apollo 24/7. Reliance Industries acquired a 60% stake in Netmeds for Rs 620 crore in an all-cash deal in 2020. The transaction valued the company at Rs 1,034 crore.
Consumer complaints
Consumers filed 1.17 lakh complaints against Netmeds through the National Consumer Helpline over five years. The number of complaints rose 14% to 19,895 in 2025 from 17,440 in 2024.
The Ministry of Consumer Affairs did not disclose the exact nature of the grievances related to Netmeds.
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