The edtech company Byju’s is run by Think & Learn Pvt Ltd, which announced that its revenue from operations for the fiscal year ending in March 2021 has been readjusted to Rs 2,280 crore. This is true despite the fact that the company suffered enormous losses of Rs 4,588 crore, up from just Rs 262 crore the previous fiscal.
This is a considerable decrease from the original projection of almost 40%. (roughly Rs 4,400 crore by the company). In its September 12 edition, ET was the first to report on the discrepancy between the startup’s unaudited revenue and what Deloitte ultimately approved.
We stated that Raveendran had been updating the company’s shareholders on the differences during the previous week and attributing those to changes in the business model brought on by the Covid-19 epidemic.