Adda247 logs 88% jump in revenue to Rs 243 crore
Adda247 recorded revenue of Rs 243.39 crore in FY24, an 88% year-on-year increase from Rs 129.65 crore in FY23. It has also reduced net loss by 66% to Rs 101 crore, down from Rs 296 crore in FY23.
The firm attributed its growth to its existing verticals in government job exams and UPSC, as well as the newly introduced K13 vertical that contributed about 15 percent to the total revenue.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitTotal expenses were slashed to Rs 344 crore in FY24 from Rs 425 crore in FY23. A major part of this expenditure was attributed to employee benefits, which amounted to Rs 125 crore, and other expenses, which totalled Rs 170 crore.
“We have added a few verticals, specifically 5-7 within state categories, in the past year,” founder and chief executive Anil Nagar told ET.
«Vernacular (state-level exams) is growing very well for us because, in these non-Hindi regions, it's like an open market, whereas in Hindi, you will find a lot of competition and many players.»
Started by Nagar and Saurabh Bansal in 2016, the platform offers courses for jobs in public sector banks, government departments and the railways. Their offerings include live online classes, on-demand video courses, mock tests, E-books, and books, all tailored preparations for specific exams.
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