Edtech decacorn Byju's FY20 revenue up 81% to Rs 2,434 cr, profit rose 152%

Byju's is on an acquisition spree, amf has spent over $2 bn to buy six companies in India and the US this year

Byju’s, the world’s most valuable edtech company with a valuation of $16.5 billion, reported its revenues for 2019-20 at Rs 2,434 crore, an 81 per cent jump over the previous financial year.
 
The company reported a net profit of Rs 51 crore in 2019-20. This is a 152 per cent increase from the previous financial year. The company’s expenses for the financial year were reported at Rs Rs 2,383 crore.The shareholding pattern held by various individuals is 82.51 per cent. Byju’s founder and Chief Executive Officer Byju Raveendran holds 50.34 per cent. Riju Ravindran holds 20.15 per cent. Byju Raveendran’s wife, Divya Gokulnath, holds 10.64 per cent.

  
Byju’s’ earnings in foreign currencies were Rs 306 crore in FY20 against Rs 168 crore in FY19.
 

Byju’s is on an acquisition spree in India and globally as the pandemic has accelerated the adoption of online education. Students and professionals are looking to upgrade their skills, while schools and offices remain shut. The start-up acquired six companies in India and the US this year and spent more than $2 billion in the past six months on these acquisitions, according to sources.
 
The inorganic route is expected to help Bengaluru-based Byju’s to dominate the edtech market. It is helping the firm increase its lead over its competitors such as Unacademy, Simplilearn, UpGrad, Amazon Academy, and traditional education institutes, to tap the country’s $180-billion education sector.

 
Some of these deals include the $1 billion buy of New Delhi-based Aakash Educational Services (AESL) in April and the $600 million acquisition of Singapore-headquartered Great Learning, a leading global player in professional and higher education.
 
Last month, Byju’s acquired US-based digital reading platform Epic for $500 million. In August last year, Byju’s acquired Mumbai-based coding start-up WhiteHat Jr for $300 million. In 2019, Byju’s bought US-based educational gaming company Osmo for $120 million in a stock-and-cash deal. Byju’s is aiming to become one of the largest players in the space in the US, with a target to hit revenues of $1 billion in the next three years.

 
Recently, the firm introduced a one-of-its-kind “Two-Teacher Advantage” for Byju’s Classes, an after-school online tutoring programme.
 
Byju’s Classes is an online tuition programme to offer a two-teacher model in India.
 
Byju’s - The Learning App was launched for classes 4-12 in 2015. Today, the app has more than 100 million registered students and 6.5 million annual paid subscriptions.