Salem Radio Network News Friday, September 30, 2022

Science

India’s Byju’s posts gross revenue of 100 billion rupees in FY22

(Corrects dateline to Sept 14 from Sept 13)

BENGALURU (Reuters) -Tiger Global-backed edtech startup Byju’s on Wednesday reported gross revenue of nearly 100 billion rupees ($1.26 billion) in fiscal year 2022, after posting a revenue of 24.28 billion rupees in the previous year.

Revenue for the first four months of this fiscal year stood at 45.30 billion rupees.

Further, the company said almost 40% of its revenue in fiscal year 2021 was deferred to subsequent years due to adoption of a new revenue recognition.

($1 = 79.4640 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Dhanya Ann Thoppil)

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