New Delhi, 13 February (IANS). Health-tech Unicorn Pristine Care is having resigning on top positions. Along with this, the company is struggling with lack of funding and taking measures to reduce costs.
The startup has been funded by Peak XV Partners (East Sikoia Capital India). Many big officials have left the company in recent months. To reduce the cost, the company has also fired several junior and mid -level officials.
According to media reports, the big officials who have left the company include the name of Prabhat Aggarwal, Vice President of Finance Department, who are currently on notice period. However, the company says they are still connected.
According to LinkedIn Profile of Tarun Bansal, Vice President of Business and Operations of the company, he gave a resignation from the company on June 2024.
Last year, Srinivas Reddy P, Senior Vice President of HR Department and Gagan Arora, head of marketing, also split from the company.
With the help of sources, the company’s spending in FY 24 has increased to Rs 1,013 crore in FY 24, according to the Financial of Prisin Care acquired by the news agency IANS, which was Rs 876 crore last year. During this period, the operating income of the company has increased to Rs 600 crore in FY 24, which was Rs 452 crore in FY 23.
Despite the increase in income, the cash flow of Pristine Care remains abstraction, the cash flow from its operation, investment and finance activities is classified as an abstract in its filing, which shows liquidity concerns.
Last year, the company fired hundreds of employees from jobs. All teams were affected in this.
-IANS
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