Byju's says FY22 standalone revenue rises to ₹3,569 crore, EBITDA loss drops marginally

livemint.com:

Byju's parent Think and Learn Private Limited (TLPL), has released its financial audit for FY22. The edutech company has reported FY22 standalone revenue up at ₹3,569 crore, with a marginal drop in EBITDA loss, as per a release. Excluding all acquisitions, the core business of Think & Learn, BYJU'S, has reported substantial growth, with total income surging to ₹3,569 crore from ₹1,552 crore in the previous year, marking a robust 2.3x increase.

Additionally, the EBITDA loss for the core business decreased from ₹2,406 crore to ₹2,253 crore year-on-year (YoY), coupled with an improved margin from -155 percent to -63 percent from FY21 to FY22. Founder and group CEO, Byju Raveendran, reflecting on a challenging year that included nine acquisitions, noted the invaluable lessons learned. “The takeaways from a uniquely belligerent year, which included nine acquisitions, are life-long learnings.

The core business has demonstrated good growth, underlining the potential of edtech in India, the fastest-growing major economy. I am also humbled by the lessons learned in the post-pandemic world of readjustments. BYJU’S will continue on the path of sustainable and profitable growth in the coming years," Raveendran said.

Earlier on October 16, Bloomberg had reported that the unicorn would report its financial results for the year during the same week. But that did not happen. With other firms done with the announcement of their FY23 results in April this year, Byju's inordinate slowness in finalising accounts made shareholders highly impatient, the report noted.