Think and Learn Private Limited (TLPL), the company that owns Byju’s, has just shown its financial report for FY22. The big news is that Byju’s, a top education technology company, made a lot more money in FY22, with its revenue reaching ₹3,569 crore. What’s even better is that the company’s losses also went down, which is a positive move for Byju’s.
Total revenue raised to ₹3,569 crore from ₹1,552 crore in the previous year, indicating a substantial increase in the core business.
The core business EBITDA loss went down from ₹2,406 crore to ₹2,253 crore compared to the previous year. This improvement reflects a shift from -155 percent to a healthier -63 percent margin from FY21 to FY22.
Future Goals
Byju’s Raveendran, the person who started the company and is in charge of it, talked about a year that had many difficulties, like buying nine other companies. He talked about the important things he learned from this.
Raveendran said, “I learned a lot from a challenging year, during which I bought nine companies”. The main part of our business did really well, showing how much people in India like educational technology, even though the country is growing fast. I also learned some important things as we adjusted to life after the pandemic. In the future, BYJU’S will keep growing in a way that is good for the environment and makes a profit”.
Results
Byju’s didn’t share its financial results for 2022 when people expected it to on October 16. This made the people who own shares in the company anxious, especially because other companies had already shared their results for the year 2023. This delay, along with Byju’s not having enough money and missing a big loan payment of $1.2 billion, worried the people who invested in the company.
The long wait for the financial results also made the government look closely at the company, and Deloitte Haskins & Sells, the people who check the company’s financial records, quit their jobs earlier this year.
Results and Milestones
In the year 2021, Byju’s had much bigger losses compared to the year before. They went from losing ₹231.69 crore to ₹4,588.75 crore. This increase happened because they changed the way they counted their money, which made it look like they lost more. Despite these problems, Byju’s was worth a lot of money, $22.6 billion.
Byju’s offers a lot of different learning programs for kids, including tests, coding, and job training. More than 150 million people from all over the world have signed up to learn on their platform, which is available in 120 countries.
Over time, Byju’s added more programs like Disney-Byju’s Early Learn program, Byju’s Classes with two teachers, Byju’s Tuition Centre, and Byju’s Exam Preparation.
In short, Byju’s is doing well in the education technology industry, even when they face difficulties. They keep growing and aiming for success in the future.
