Think and Learn Private Limited (TLPL), Byju's parent company, has made its FY22 financial audit public. According to a release, the edtech company recorded an increase in standalone revenue for FY22 of Rs 3,569 crore and a little decrease in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) loss.
When all acquisitions are excluded, Think & Learn's main business, BYJU'S, has experienced significant growth. Total income increased to Rs 3,569 crore from Rs 1,552 crore the year before, a strong 2.3x rise.
Furthermore, the core business's EBITDA loss improved year over year (YoY) from Rs 2,406 crore to Rs 2,253 crore, and its margin improved from -155 percent to -63 percent between FY21 and FY22.
Founder and group CEO Byju Raveendran highlighted the priceless lessons learned in his reflections on a difficult year marked by nine acquisitions.
“The takeaways from a uniquely belligerent year, which included nine acquisitions, are life-long learnings. The core business has demonstrated good growth, underlining the potential of edtech in India, the fastest-growing major economy. I am also humbled by the lessons learned in the post-pandemic world of readjustments. Byju’s will continue on the path of sustainable and profitable growth in the coming years," Raveendran said.
Bloomberg had earlier on October 16 reported that the unicorn would release its annual financial figures the same week. However, that did not occur.
According to the article, shareholders were extremely irritated with Byju's abnormally long finalisation of accounts, given that other corporations had completed the announcement of their FY23 results in April of this year. In addition, the business is having financial difficulties and has neglected to make payments on a $1.2 billion term loan.
Regulators were also examining the lengthy delay in releasing the financial data, which resulted in the resignation of Deloitte Haskins & Sells, the company's auditor, earlier this year.