BYJU's finally reports FY21 earnings but mounting losses fail to soothe concerns

BYJU's finally reports FY21 earnings but mounting losses fail to soothe concerns

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.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter