Educational technology company Byju’s incurred a loss of ₹2,250 crore in the financial year ending March 31, 2022, compared to a loss of ₹2,406 crore the previous year. However, the company’s revenue increased from ₹1,552 crore to ₹3,569 crore. Byju’s released this information on Saturday, citing several reasons, including delays in issuing financial results and regulatory scrutiny. Byju Raveendran, the founder and CEO, stated, “Financial year 2022 has taught us a lot. We have made nine acquisitions this year, highlighting the potential of education technology in India, which has one of the world’s fastest-growing economies. The world has changed significantly after the COVID-19 pandemic, and we have learned a lot. In the coming years, Byju’s will continue to grow sustainably and profitably.”
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