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BYJU’s Logs Nearly ₹10K Crore Earnings in FY22, Exceeds Estimates

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While all eyes are on BYJUIn the highly anticipated FY21 financial results to be revealed on Wednesday, the edtech major has recorded nearly Rs 9,991 crore in revenue in its FY22 financial results and its core business in K12 education is growing very fast, top sources have revealed.



In six months from February 2022 to July 2022, the company registered Rs 6,175 crore revenue, breaking all previous sales records, three people close to the case told IANS.

This is a significant gain from the FY20 financial report when the company recorded revenue of Rs 2,434 crore with a net profit of Rs 51 crore.

BYJU’s investors were ecstatic at the company’s growth in its core businesses at its recently concluded meeting, sources told IANS as the company delivered 50 percent (year-over-year) growth in its core business in K12 India for Rs. 1,205 crore, leaving no competition anywhere near.

After being acquired by BYJUs for $1 billion last year, Aakash . Educational Services (AESL) has transformed into a hybrid edtech company that is rapidly expanding across the country, which is one of the main reasons behind BYJU’s success in FY22.

Meanwhile, after a nearly 18-month delay in “ironing out the complexity,” edtech major BYJU’s was all set to unveil its FY21 financial report.

The company had received an ‘approved’ report from the accountant Deloitte late last month.

According to sources, there could be a significant difference between projected sales and audited revenues in BYJU’s financial results for FY21.

BYJU’s, with a final value of $22 billion, has raised more than $6 billion in funding to date and is looking to file an IPO in the U.S. through the Special Purpose Acquisition Company (SPAC) procedure.

The company is likely to raise more than $500 million (almost Rs 3,900 crore) soon at a valuation of approximately $23 billion.

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