BYJU’S FY 22 growth intensifies, clocks gross revenues of nearly Rs 10,000 cr
Bengaluru: Ed-tech company BYJU’s has registered nearly Rs 10,000 crore in gross revenues in FY 22 and its K-12 education business is showing accelerated growth. Between April - July 2022, the company logged a revenue of Rs 4530 crore.
BYJU’S has received an unqualified report for FY21 from its auditor, Deloitte Haskins & Sells, the company said in a press release, adding that the revenue for FY 21 of the BYJU’S group is Rs. 2,428 crore.
There was significant business growth in FY 21 over FY 20, but since this is the first year where new revenue recognition started because of a COVID-related business model change, almost 40 percent of the revenue was deferred to subsequent years.
The rationalized growth between FY 21 and FY 20 is a result of the changes made in the way BYJU’S recognizes its revenue, as advised by its auditors.
Recognising tutoring and live classes as the need of the hour, BYJU’S launched its hybrid learning offering BYJU’S Tuition Centre which brings the best of online and offline learning to students.
Today, there are 200+ active centres across India and the company aims to scale it up to 500 centres by the end of this year.
The BYJU’S group is well-diversified across delivery modes (learning app, live online learning and hybrid learning), learning spectrum (from early learn to higher education) as well as geographies (more than a quarter of its revenue now comes from outside India).
With this, the group has become a leading full spectrum education player in the world.
BYJU’S acquisitions across segments over the last year have seen substantial growth. Aakash in the test prep segment and Great Learning in the higher education segment have doubled their revenues since acquisition.
The company said Osmo and Epic! are scaling up rapidly in North America, in terms of both adoption and engagement.
Tynker has grown to be the largest coding community for children, globally.
The company continues to be a net hirer with a 50,000+ strong employee base globally.
BYJU’S plans to hire a total of 10,000 more teachers in the coming year, adding to its current strength of 20,000 teachers.
To fuel its growth, the company is expanding its teams along with hiring senior leadership to effectively further build operational strength.
Along with the revenue growth and significant momentum, BYJU’S continues to enjoy an industry-best NPS of 70 and has an annual retention renewal rate of 80 percent.
BYJU’S has 150+ million learners accessing its products and services in 120+ countries.