Interestingly, the edtech giant had to spend ₹277 crore for the devices it offered to students in the fiscal year and earned ₹1,334 crore.
Byju’s valuation has skyrocketed since last year, as the pandemic has fuelled an online learning boom with parents enrolling kids in online classes.
Byju’s has more than 65 million subscribers, but the edtech startup has seen faster growth over the past year, with at least 25 million new users signing up to use its platform after the covid-induced nationwide lockdown was announced last year in March.
In a bid to make it a one-stop platform for educational requirements, the company has struck some of the largest acquisitions, including test preparation firm Aakash Educational Services as well as WhiteHat Jr, Great Learning and Toppr.
In June this year, Byju’s raised $1.5 billion from UBS Group, Abu Dhabi sovereign fund ADQ, Blackstone Group, among others, at a valuation of $16.5 billion.
In April, Byju’s had raised more than $1 billion from investors led by Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group and US-based investment hedge fund XN Exponent Holding.
The fundraising valued the company at around $15 billion.