Byju’s-owned Aakash Educational Services (AESL) reported an operational revenue growth of 44.56% to Rs 1,421 crore in FY22, up from Rs 983 crore in FY21. The firm’s profit jumped 82% to Rs 79.5 crore, from Rs 43.6 crore in FY21, the company’s financial statement sourced from the Registrar of Companies showed.
Tuition fees earned from students on coaching services increased 48.4% to Rs 1,282 crore, which accounted for 87.8% of the firm’s total revenue in FY22.
Rest of the income was generated from the franchisee model, which saw a 16.8% y-o-y increase to Rs 139 crore in FY22. The company also earned a non-operating income of Rs 43 crore mainly through interest, manpower and covid-19 rent concession in FY22.
The company’s expenses rose 35% to Rs 1,332 crore in FY22, up from Rs 990 crore in FY21. It’s employee benefits formed the largest chunk of expenditure at 54%. The employee cost increased by 35.4% to Rs 723 crore in FY22, up from Rs 534 crore in FY21. The institute has over 5,500 teachers.
The company spent Rs 134 crore on advertising, which is 31% higher than the Rs 102.6 crore in FY21. Its ROCE and Ebitda margin stood at 24.6% and 68.3%, respectively, down from 27% and 182% in FY21.