Byju’s, India's most valuable startup reported revenues of Rs 2,381 crore but also a loss that ballooned 30 times over in the pre-covid period of April 2019 to March 2020.
Edtech Giant Byju’s in their filing showed revenue from operations by 82.31% to Rs 2,381 crore in FY'20. Surprisingly, 70% of Byju’s revenue came via sales of tablets and SD cards. Sales of these products amounted to Rs 1,675.7 crore, accounting for 70.4% of revenue during the pre-covid financial year as per Entracker.
Losses for the company however went up from Rs 8 cr to Rs 262 cr in just one year. Large part of that can be owed to a mega advertising expenditure budget. Byju's became the official sponsor for the Indian Cricket team in September 2019 and spent Rs 162 crore in total on sponsorships during FY20.
These numbers however are for the pre-covid era, Byju's bets on edtech and acquisitions in the current year may reveal a very different balance sheet next time around.