September 24, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Byju’s loss widens to Rs 250cr in FY20, revenue grows 82%

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Byju’s loss widens to Rs 250cr in FY20, revenue grows 82%
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Byju’s loss widens to Rs 250cr in FY20, revenue grows 82%

BENGALURU: Byju’s reported a loss of Rs 250 crore for fiscal 2019-20, up from just Rs 9 crore in the previous year, according to documents accessed by business intelligence platform Tofler.
On a consolidated basis, revenue from operations was up 82% to Rs 2,380 crore as more people registered for the company’s courses. Losses widened as expenses more than doubled to Rs 3,021 crore from Rs 1,376 crore. It paid Rs 420 crore as employee benefit expenses, which made up around 14% of its aggregate expenditure.

Byju’s loss widens to Rs 250cr in FY20, revenue grows 82%

Byju’s, which got some of the biggest cheques from investors this year, utilised a considerable part of it on advertorials. More than 70% of the company’s revenue came from sales of tablets and SD cards, which contain its courses. Sale of reference books generated 23% of the revenue. The remaining was from tuition and service fees.
Byju’s has more than 65 million subscribers. It added about 25 million over the last year, as more people signed up for online classes amid Covid. The company has been on an acquisition spree in the last one year, buying companies like WhiteHat Jr, Aakash, Great Learning and Toppr.

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