Edtech leader Byju's has announced the closure of its audited financial accounts for the financial year 2021-22. The company reported that the EBITDA loss of its core business decreased from Rs 2,406 crore to Rs 2,253 crore year-on-year. The margin improvement also showed progress, with the margin going from -155 percent in FY21 to -63 percent in FY22.
EBITDA loss represents a loss in earnings before interest, taxes, depreciation, and amortization.
The parent company, Think and Learn Private Ltd (TLPL), which operates Byju's, highlighted that the core business (excluding all acquisitions) achieved significant growth, with total income reaching Rs 3,569 crore, a 2.3 times increase from the previous year's Rs 1,552 crore.
Byju Raveendran, the Founder and Group CEO of Byju's, emphasized the potential of edtech in India and the importance of sustainable and profitable growth in the post-pandemic world.
Byju's had faced delays in filing its FY22 financial results, and it recently made changes in its finance leadership, appointing Pradip Kanakia as a senior advisor and Nitin Golani as the Chief Finance Officer (CFO), with the incumbent CFO, Ajay Goel, returning to Vedanta Ltd.
(With Agency Inputs)
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