On Wednesday, Byju’s reported it had earned Rs 2,428 crore in revenues in the financial year 2020-21 and incurred a loss of Rs 4,500 crore. The revenues are 3 per cent lower than the figure in the previous year, and the loss has vaulted 15 times from Rs 300 crore in 2019-20.

For the subsequent 2021-22, the company disclosed its unaudited result, which shows its gross revenue is nearly Rs 10,000 crores. Byjus is the largest creator of India’s K12 learning app, the forte of the company’s K-12 education business has thrived and been showing accelerated growth.

The company logged a revenue of Rs 4,530 crores between April-July 2022 only. Due to the adoption of new revenue recognition, the company claimed that almost 40 per cent of its revenue in the fiscal year 2021 was different from subsequent years.

Byju Raveendran, the founder of Byju’s, addressed the loss and said that FY21 revenue got deferred because of revenue recognition changes across the consumption and collection period. Further, he added that around 40 per cent of the company’s revenue got differed. Otherwise, the company would’ve pushed its revenue to 60 to 65 per cent.

Byju’s is an Indian multinational educational company founded by Byju Raveendran and Divya Gokulnath. Headquartered in Bangalore, Byju’s values USD 22 billion. The company also claims to have more than 115 million registered students. The company is considered the most valued startup in India.