Byju’s net rises 150% in FY20 as more students enrol

By: |
September 01, 2021 3:15 AM

Total revenues grew by 81.38% year-on-year to Rs 2,433.82 crore in FY20. Revenues were helped by a boost in other income that rose significantly to Rs 323.80 crore in FY20 from Rs 60.72 crore in the year-ago period. The ed-tech firm’s total expenses,however, shot up to Rs 2,383.06 crore in FY20 from Rs 1,321.64 crore in FY19.

The firm, which has been leading the funding deals in the local edtech space, has allocated the bulk of the capital towards suitable M&As, having already spent over $2 billion on acquisitions so far this year.The firm, which has been leading the funding deals in the local edtech space, has allocated the bulk of the capital towards suitable M&As, having already spent over $2 billion on acquisitions so far this year.

Byju’s saw its net profit jump to Rs 50.76 crore in the year ended March 31, 2020, from Rs 20.16 crore posted in FY19, recording an increase over 150%, according to the company’s RoC filings sourced from business intelligence platform Tofler.

Total revenues grew by 81.38% year-on-year to Rs 2,433.82 crore in FY20. Revenues were helped by a boost in other income that rose significantly to Rs 323.80 crore in FY20 from Rs 60.72 crore in the year-ago period. The ed-tech firm’s total expenses,however, shot up to Rs 2,383.06 crore in FY20 from Rs 1,321.64 crore in FY19.

Valued at $16.5 billion, Byju’s is backed by a slew of marquee investors including General Atlantic, the Chan-Zuckerberg Initiative, Naspers, Silver Lake and Tiger Global. Ed-tech firms saw a boom in subscriptions amid the pandemic as more students signed up for online classes to supplement restricted school education. Byju’s claims to have added 45 million new students in just six months during the lockdown.

The firm, which has been leading the funding deals in the local edtech space, has allocated the bulk of the capital towards suitable M&As, having already spent over $2 billion on acquisitions so far this year.

Earlier this year, the company raised close to $1.5 billion from a clutch of investors including Facebook co-founder Eduardo Saverin’s B Capital Group, UBS Group and Blackston in tranches. In 2020, Byju’s scored over $one billion from investors.

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