Benefiting from surging online healthcare demand during the pandemic, Alibaba’s (NYSE: BABA; HKEX: 9988) subsidiary AliHealth (HKEX: 0241) booked its first profit in the March to September period, according to the company’s earnings report.
The USD 1.1 billion revenue in the six months ended September 30, represent a year-on-year growth of 74%, resulting in a profit of USD 42 million, after a USD 1.15 million loss in the same period in 2019. Around 84% of the revenue was generated from direct sales of medicine and healthcare products in the company’s online pharmacy.
AliHealth attributed the positive results to the rapid growth of the pharmaceutical direct sales business and e-commerce platform business during the reporting period.
JD Health, the healthcare service of Alibaba’s rival JD.com (NASDAQ:JD; HKEX: 9618), reported revenues of USD 1.3 billion in the six months ended June 30, according to its prospectus filed to the Hong Kong Stock Exchange earlier this month.
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.