Edtech firm BYJU’s, which was recently in the headlines for issues including layoffs at its subsidiaries, has reported a wider net loss and a drop in revenue in FY21, becoming one of the biggest loss-making unicorns in India.
The company’s revenue fell 14% year-on-year to Rs2,428 crore ($305.8 million) on a consolidated basis and it reported a net loss of Rs 4,500 crore in the year ended March 31, 2021— nearly 17 times the Rs 262 crore loss of FY20, according to media reports.
