OPEN APP
Home >Companies >Start-ups >Byju's FY20 profit grows over two-folds to 50.76 crore

Byju's FY20 profit grows over two-folds to 50.76 crore

In July this year, Byju's had announced the acquisition of Singapore-headquartered Great Learning in a transaction valued at $600 million (about  ₹4,466 crore)Premium
In July this year, Byju's had announced the acquisition of Singapore-headquartered Great Learning in a transaction valued at $600 million (about 4,466 crore)

Byju's standalone income from operations of 2,110 crore came from three major businesses - tuition fee ( 144 crore), sale of education tablets and SD cards ( 1,675 crore) and sale of reference books ( 560 crore)

NEW DELHI : Byju's, India's most valuable education tech startup, has seen profit more than double to 50.76 crore in FY20 with the sale of tablets, SD cards and books getting it the bulk of its revenues.

Byju's standalone income from operations of 2,110 crore came from three major businesses - tuition fee ( 144 crore), sale of education tablets and SD cards ( 1,675 crore) and sale of reference books ( 560 crore).

The company is yet to submit documents to the Registrar of Companies (RoC) for its financial numbers for FY21.

Byju's (Think & Learn Pvt Ltd) had logged net profit (standalone basis) of 20.16 crore and 1,281 crore in operational revenue in FY19, according to documents accessed by business intelligence platform Tofler.

On a consolidated basis, revenue grew over 82% to 2,380.7 crore in FY20 over 1,306 crore in 2018-19. Byju's saw losses widening to about 250 crore in FY20 from about 9 crore as total expenditure more than doubled to 3,021 crore in 2019-20 from 1,376 crore in FY19.

"On a standalone basis - which is our core business - we are profitable. On a consolidated basis (which includes acquisitions), there is a loss given that some of these businesses need investment to scale," Byju's Chief Strategy Officer Anita Kishore told PTI.

She added that the company - which has been on an acquisition spree with the buyout of companies like Aakash Educational Services, Epic and Greal Learning - aims to clock 10,000 crore in revenue in FY22.

As per the documents, educational tablets and SD cards accounted for 63.24% of the company's turnover in FY20, while sale of reference books contributed 26.51%.

Educational tablets and SD cards contributed 1,334.48 crore to the company's revenue from operations in 2019-20 - accounting for the largest chunk of Byju's revenues, followed by sale of reference books ( 559.4 crore) and sale of services ( 71.96 crore).

Tuition fee contributed under 7% of the revenue at 144.17 crore during FY20.

Byju's saw its employee benefit expense also increasing to 322.81 crore in FY20 from 255.39 crore in the previous fiscal.

The company, in the document, said it is confident of "achieving higher revenue and profits in the coming years in this global world as the opportunities are huge and your company is capable of exploring the same productively".

It added that the management of the company has effectively responded and managed the operations through the pandemic.

The edtech space has seen strong growth globally, including in India, with the COVID-19 pandemic serving as an inflection point. Many offline classes went online to ensure continuity of education while adhering to social distancing norms.

Byju's, which is backed by marquee investors, including General Atlantic, Sequoia Capital, the Chan-Zuckerberg Initiative, Naspers, Silver Lake and Tiger Global, is estimated to have raised about USD 1.5 billion since April last year in multiple tranches.

The company has also been aggressively acquiring companies to bolster its presence across categories. In the past, Byju's had acquired TutorVista and Edurite (from Pearson in 2017) and Osmo in 2019. Last year, the company had bought the coding training platform WhiteHat Jr for $300 million and in April this year, it acquired Aakash Educational Services Ltd (AESL) to bolster its presence in the test preparation segment in the country.

In July this year, Byju's had announced the acquisition of Singapore-headquartered Great Learning in a transaction valued at $600 million (about 4,466 crore), and said it will invest an additional $400 million to strengthen its position in the professional and higher education segment.

It had also announced the acquisition of US-based digital reading platform Epic for $500 million (around 3,729.8 crore), and an additional $1 billion (about 7,459.7 crore) investment in the North American market in the same month.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout