Byju’s founder and CEO informed staff that the country’s most valuable company has already begun to turn its focus toward profitable growth and that revenue of $2 billion was within its sights just days after posting a loss of Rs 4,564 crore for the 2021 fiscal year. According to Byju Raveendran, the education provider outsold its next two rivals in the K12 (kindergarten through 12th grade) market by roughly 20 times during the previous five months, clocking revenues of more than Rs 1,000 crore.
He wrote to the staff, “Going forward in FY23 and beyond, we will mix expansion with efficiency to assure sustainability. “Our attention is already beginning to move toward profitable expansion. The overarching goal is to effectively distribute resources to maximum impact.”
After a delay of more than 17 months, Byju’s released audited financial results for fiscal 2020–21 (April 2020–March 2021) last week.