Eruditus posts Rs 3,733 crore revenue in FY24, reduces losses by 83%

Revenue nearly 1.8x Physics Wallah, 2x upGrad

Eruditus reinforced its leadership in India’s educational technology (edtech) sector, reporting a revenue of ₹3,733 crore for 2023-24 (FY24). The company recorded 12 per cent year-on-year growth, further strengthening its position in the rapidly evolving industry. The Mumbai-based firm also reduced its losses by over 83 per cent during the same period.

 

“FY24 was a milestone year for Eruditus, not only in terms of financial performance but also in global recognition,” the company said on Wednesday night.

 

To date, Eruditus has educated more than 1 million learners across over 80 countries and continues to expand its partnerships with top universities worldwide. In line with standard accounting practices, the company deferred recognition of ₹800 crore in collected revenue to the next financial year.

 

Eruditus’ adjusted earnings before interest, tax, depreciation, and amortisation (Ebitda) loss (excluding one-time provisions and stock-related non-cash expenses) improved to ₹69 crore in FY24 from ₹417 crore in 2022-23 (FY23). This was attributed to disciplined financial management and a focus on operational efficiency. The FY24 Ebitda loss stood at a marginal 2 per cent of revenue, reflecting the company’s progress towards profitability.

 

Key drivers of Ebitda improvement included a reduction in marketing expenses, which declined from 29 per cent of revenue in FY23 to 27 per cent in FY24. Operating expenses also fell from 36 per cent of revenue in FY23 to 28 per cent in FY24.

 

With strong financial performance and a commitment to global education, Eruditus said it continues to lead the Indian edtech industry, outpacing peers in revenue and reinforcing its long-term growth trajectory.

 

The company said that its revenue is nearly 1.8 times that of Physics Wallah and more than twice that of upGrad. “With its significant lead in revenue, Eruditus remains the undisputed leader in India’s edtech sector, driven by its global partnerships, diverse learning programmes, and commitment to innovation,” it said.