General Atlantic-backed Indian edtech startup Byju’s claims to be profitable

Byju’s founder Byju Raveendran. Photo: Mint

Online tutoring app Byju’s on Thursday said it has almost tripled its total revenue to ₹1,430 crore for the year ended March 2019, up from ₹490 crore revenue reported in FY18.

The startup, a unit of Think & Learn Pvt Ltd, also claimed in its press statement that it is now profitable on a full-year basis. When asked to share the actual profit figures for FY19, the company declined to share any further information.

As of April 2019, BYJU’s claims to have crossed ₹200 crore in monthly revenue. It is estimating a revenue of over ₹3,000 crore by the end of this year, according to its press statement.

The growth in revenue was fueled by deeper penetration across India and significant growth in the number of paid subscribers, the company said in its statement. BYJU’S also said it is currently working on creating learning programs in different regional languages to expand its reach.

“60% of our students are from outside the top 10 cities. This high adoption rate is a clear indication that online learning is fulfilling a crucial need and is here to stay. We are also working on creating learning programs in multiple regional languages and we believe that this move will truly be a game changer in helping students learn in the comfort of their homes and in a language of their choice,” said Byju Raveendran, chief executive of BYJU’S in a statement.

According to the company statement, BYJU’s has over 35 million registered users and 2.4 million paid subscribers currently — up from 1.26 million in June 2018.

This article was first published on livemint.com.