Page 27 - Byju's

Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end

The most-valued edtech start-up made headlines earlier this month after its FY21 numbers received an unqualified report from the company's auditor, Deloitte Haskins & Sells

Top Headlines: Byju's focus on profit; YES Bank sells stressed loans

After reporting a loss of Rs 4,588 crore in 2021 fiscal, Byju Raveendran, the founder and CEO of the world's most valuable edtech firm Byju's, has told employees

Byju's focusing on profitable growth, $2 bn revenue in sight: CEO to staff

Asserts that FY22, the year in which the edtech firm incurred a Rs 4,588 cr loss, was the company's best so far and that 2022-23 is set to be even stronger

Top headlines: KKR to invest in Hero's RE arm; CEA pegs FY23 growth at 7%

SpiceJet has sent approximately 80 pilots on leave without pay for three months in order to rationalise its costs.

BYJU's is a blockbuster like 'Brahmastra': Co-founder Divya Gokulnath

Gokulnath says media reports on FY21 financials were misleading

Did Byju's bite off more than it could chew?

Education technology company Byju's FY21 revenues came in flat, and its losses have widened about 20 times. While it may survive this crisis, questions still remain around the future of the unicorn

TMS Ep261: BYJU's revenue, D2C brands, consumer financiers, Project Cheetah

Did BYJU's bite off more than it can chew? What explains the great Indian brand rush? Is it the right time to invest in consumer financiers? What is Project Cheetah? Answers here

BYJU'S has to pay Rs 2,000 cr to clear Aakash acquisition deal on Sep 23

Edtech major BYJU's is set to pay the remaining amount of nearly Rs 2,000 crore to VC firm Blackstone in the $1 billion acquisition of Aakash Educational Services on September 23

Deloitte sought two key changes to Byju's FY21 financials: Report

In the results, declared on Wednesday after a delay of over 18 months, Byju's recorded a revenue of Rs 2,280 crore. The loss for FY21 stood at Rs 4,500 crore

With a loss of Rs 4,588 crore, Byju's FY21 report card has many red marks

The FY21 revenue figure of Rs 2,428 cr is similar to the revenue figure of Rs 2,434 cr in the previous year, though the difference is that the bottom line in 2019-20 showed a profit of Rs 51 cr

We are being penalised far more than we should have been: Byju Raveendran

In growing fast, we would have overlooked a few things and that's why we are being penalised a lot more than we should have been

Top headlines: Byju's FY21 losses widen; India's Aug trade deficit doubles

The wholesale price-based inflation eased to 11-month low of 12.41 per cent in August, on softening in prices of manufactured and fuel products, even as food items remained expensive.

Byju's audited revenue expected to be lower than projected numbers

Byju Raveendran, co-founder and the CEO of the unicorn, has briefed the shareholders and the board members about the difference

Andhra govt to procure over 500,000 tabs with Byju's content for students

The Andhra Pradesh government on Monday said it would be purchasing over five lakh tablet computers (tabs) with pre-loaded Byju's e-learning content, meant to be provided to students of state-run schools while over 72,000 TV sets would be set up in classrooms in a phased manner, at a total expenditure of Rs 512 crore. Chief Minister YS Jagan Mohan Reddy held a meeting with senior officials to review Nadu Nedu (our school: then and now). The government would be purchasing 5,18,740 tabs with pre-loaded Byju's content besides smart TVs and interactive TVs. The officials said that 72,481 TV sets are needed and would be set up in classrooms in phases and the expenditure would be Rs 512 crore. By March next, the first phase of digitization would be complete, a release said quoting officials. Reddy categorically stated that monthly audit should be carried out at schools revamped under Nadu Nedu scheme about the amenities and other aspects. He said the scope of audit should also cover th

India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

Byju's to make financial results for 2020-21 public next week: Report

Edtech major Byju's is expected to make financial results for 2020-21 public next week after meeting with shareholders, according to sources privy to the development. The company had informed the Ministry of Corporate Affairs in July that it will announce its financial result on September 6. "Byju's has now obtained an unqualified report from our audit partner Deloitte. The board has approved the audited financial results. Byju's is waiting for the shareholder meeting (expected later this week) before announcing the results in the coming week. Byju's is also in the midst of a round and it hopes to share details of that equally soon," a source told PTI. The MCA had issued a notice to Byju's for the delay in filing the financial result. The company had posted around 82 per cent increasing operating revenue of Rs 2,381 crore in the financial year 2019-20 and its losses were Rs 262 crore. Byju's has set a target to close FY2023 with revenue of around Rs 17,000 crore. The company is l

Byju's likely to raise over $500 mn at $23-bn valuation: Report

Edtech major Byju's is likely to raise over USD 500 million (about Rs 3,900 crore) at a valuation of around USD 23 billion in about a week, sources privy to the development said. The company is planing to use the funding for acquisition in the US, they added. The company is in discussion with Abu Dhabi's Sovereign Wealth Funds (SWF) and Qatar Investment Authority (QIA) for raising in the range of USD 400-500 million and USD 250-350 million, respectively, according to the sources. "Byju's is in an advanced stage of discussion with some investors. The company is likely to raise over USD 500 million in about a week. The transaction is expected to be closed at a valuation of around USD 23 billion," one of the sources told PTI, who did not wish to be named. Byju's declined to comment on the development. According to the source, the funding is part of the company's plan to use the fund for inorganic expansion, especially in the US. The company has already acquired US-based reading plat

MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

BYJU's receives clean FY21 audit from Deloitte, to make it public next week

India's edtech startup BYJU's has finally received a clean report from auditor Deloitte on its financial results for FY21 that will be shared with the equity and debt investors next week

Top headlines: S&P ups India inflation forecast, green hydrogen, and more

S&P Global Ratings raises India's inflation forecast to 6.8% for FY23. India Inc's next big thing could be green hydrogen