Byju's has reported an Ebitda loss of over Rs 2,250 crore for its standalone business, even as revenue grew to over Rs 3,500 crore for FY22.
Think & Learn Pvt. Ltd., the parent company of Byju's, in a press statement, said its core business has posted a revenue of Rs 3,569 crore for FY22, compared to Rs 1,552 crore in the previous year.
Its Ebitda loss narrowed at Rs 2,253 crore versus Rs 2,406 crore year-on-year.
The company hasn't commented on its consolidated numbers in the statement. Its consolidated losses stood at Rs 4,588 crore with a revenue of Rs 2,430 crore in FY21.
"The takeaways from a uniquely belligerent year, which included nine acquisitions, are life-long learnings. The core business has demonstrated good growth...I am also humbled by the lessons learnt in the post-pandemic world of readjustments. Byju's will continue on the path of sustainable and profitable growth in the coming years,” founder and group CEO Byju Raveendran said in a statement.
In its FY21 earnings, Byju's losses had jumped thirteenfold as the Bengaluru startup said changes in accounting practices have led to deferment of revenue to subsequent years.
Further, it had also released the unaudited numbers for FY22, claiming that revenue would rise to about Rs 10,000 crore.
Byju's is also behind on its FY23 results, which it said would be filed by December 2023.
The past 12 months have seen Byju's hit by a wave of resignations. Its auditor Deloitte and three key investor representatives resigned from the board, while Chief Business Officer Pratyusha Agarwal, Mukut Deepak, business head for Byju's Class 4–10 school segment, and Himanshu Bajaj, head of Byju's Tuition Centres business, also exited.
Other headwinds included valuation cuts by prominent investors, searches by the Enforcement Directorate, mass layoffs, and unhappy employees taking to social media routinely, among others.
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