API Holdings, parent company of PharmEasy, improved its FY23 bottom line after heavy FY22 losses but compromised on rapid growth. PharmEasy's revenue grew 16% to Rs 6,644 crore, with GMV at Rs 14,351 crore. API operates in pharmaceutical and cosmetic trading, contributing 90% of revenue. Despite diverse revenue streams, the company reduced overall expenses by 5.7%. PharmEasy cut losses by 16.2%, aided by cost-cutting measures. Outstanding losses reached Rs 10,825 crore, but cash burn decreased by 71.3%. PharmEasy planned a Rs 3,500 crore right issue with interest from various investors. Valuation reductions occurred in May 2023.