Byju's posts Rs 10,000 crore in gross revenue in FY22

India's largest ed-tech company Byju's posted nearly Rs 10,000 crore in gross revenues in FY22, the company said on Wednesday. Between April-July 2022, the startup logged a revenue of Rs. 4530 crore. 

However, the company's revenue in FY 21 came out at Rs 2,428 crore, 14 per cent down from FY 20.  
 
In FY 20, Byju's had clocked Rs 2,704 crore revenue. "BYJU’S has received an unqualified report for FY21 from its auditor, Deloitte Haskins & Sells. The revenue for FY 21 of the BYJU’S group is Rs. 2,428 crore," the startup said. 
 
Byju's said that a significant increase in business was not reflected in the revenue figure, and nearly 40 percent of the revenue was deferred to subsequent years. 
 
"There was significant business growth in FY21 over FY20, but since this is the first year where new revenue recognition started because of a Covid-related business model change, almost 40% of the revenue was deferred to subsequent years," Byju's said in a statement. 
 
The rationalised growth between FY21 and FY20 is a result of the changes made in the way BYJU’S recognises its revenue, as advised by its auditors, it said.  

The company further said that it is well-diversified across delivery modes (learning app, live online learning and hybrid learning), learning spectrum (from early learning to higher education) as well as geographies - more than a quarter of its revenue now comes from outside India. 

Byju’s said that it 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. 

The startup now has 150-plus million learners accessing its products and services in over 120 countries, it said.