Scaler Academy posts five-fold rise in FY23 revenue to Rs 317 crore

economictimes.indiatimes.com:

Scaler Academy has reported a nearly fivefold increase in yearly operational revenue during a period in which it raised no external capital.

The company said its operational revenue rose to Rs 316.7 crore in the financial year ended March 2023, from Rs 65.6 crore a year earlier.

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However, the losses at the firm nearly doubled to Rs 330.3 crore, as per regulatory filings sourced by Tofler.

Total expenses at the firm went up to Rs 654.6 crore, significantly pushed up by employee expenses of Rs 322.07 crore and other expenses of Rs 316.93 crore.

In April 2023, the company announced the launch of Scaler School of Technology, a four-year residential undergraduate computer science programme designed for the next generation of India's software professionals.

The following month, Scaler had announced the acquisition of Delhi-based education platform Pepcoding for an undisclosed amount to strengthen its business ecosystem. This was the company’s fourth acquisition – after AppliedRoots, Coding Minutes, and Coding Elements — over 2022 and 2023.

Last year, Scaler achieved positive cash flow and was profitable in the July-September quarter. The aim for 2024 is to maintain this over the next few quarters and lead to annual