Byjus Loss Of Rs 4,588 Crore In 2020-21; The Reasons For Widening Losses For Edtech Companies Are

Byjus Loss Of Rs 4,588 Crore In 2020-21; The Reasons For Widening Losses For Edtech Companies Are

Updated on 14 Sep, 2022: Byju’s revenue has decreased. However, Byju’s said its revenue quadrupled to Rs 10,000 for the year ended March 31, 2022, but did not provide profit or loss figures for the year.

The company said losses were wider in fiscal 2021, mainly because White Hat Jr. deferred some of its revenues and losses.

Byju Raveendran, co-founder and CEO of Byju, advised his PTI to change revenue recognition, namely, recognition of streaming revenue over the consumption period and the credit sales period, as well as recognition of his EMI sales after full recognition.

He said it affected his perception. “These two changes are significant changes that have delayed or postponed sales by more than 40%. He added that while revenues have shifted, costs have not, so losses have increased as well.

Edtech startup’s posted a loss of Rs 458.8 billion in the financial year ended 31 March 2021. This is 19 times more than in the previous financial year.

The 2020-21 loss widened from his Rs 231.69 crore in 2019-20. According to the company’s audited financial statements, Byju’s revenue has decreased.

However, Byju’s said its revenue quadrupled to Rs 10,000 for the year ended March 31, 2022, but did not provide profit or loss figures for the year. The company said losses were wider in fiscal 2021, mainly because White Hat Jr. deferred some of its revenues and losses.

Byju Raveendran, co-founder and CEO, advised his PTI to change revenue recognition, namely, recognition of streaming revenue over the consumption period and the credit sales period, as well as recognition of his EMI sales after full recognition.

He said it affected his perception. “These two changes are significant changes that have delayed or postponed sales by more than 40%.

He added that while revenues have shifted, costs have not, so losses have increased as well. Byju’s revenue from April to July 2022 was Rs 4.53 billion, surpassing its revenue for the full year 2021.

Core business he grew 150% with additional acquisitions. He finished the year with total turnover of 22 rupees of Rs 10,000,” said Mr Raveendran.

He said the Aakash and Great Learning acquisitions have paid off, more than doubling his pre-acquisition growth, while WhiteHat Jr. has performed poorly. The company is also focusing on globalization.

In early 2019, Byju acquired Osmo, a Palo Alto-based educational game maker, transforming the entire offline learning experience into an online one.

Since then, the company has grown with strong partners such as EPiC, Tynker, White Hat Jr, Aakash, Great Learning and Gradeup to strengthen its product portfolio and global reach.

Byjus is the country’s highest rated education technology startup, backed by renowned investors including Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital and Tiger Global .

As part of its domestic expansion, Byju acquired exam prep leader Aakash Educational Services last April for about $1 billion.

The acquisition is Byju’s largest and one of the largest edtech deals in the world. After the transaction, Blackstone Group and Aakash Educational Services Ltd (AESL) held minority stakes in Byjus.

Headquartered in Bengaluru and with offices in 21 countries, Byju’s products are sold in over 120 countries.

Launched in 2015, Byju`s has already provided digital learning to his 3.4 million students in underserved communities in India, and by 2025 will reach 10 million in his home country. aims to reach students of The app has over 115 million registered students and his 7.5 million annual paid subscriptions.

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