Page 4 - Byju's

Eupheus Learning narrows loss to Rs 9 cr, revenue at Rs 225 cr in FY2024

Edtech firm Eupheus Learning has posted a revenue of Rs 225 crore in the 2024 financial year driven by operational efficiency and growth following the rollout of the National Education Policy 2020, a top official of the company said. Eupheus Learning Co-founder and CEO Amit Kapoor told PTI the company expects to grow revenue by 10 per cent in the current financial year and continue to improve margins. "We introduced several operational efficiency mechanisms in the company which led to improvement in margin. Our revenue grew by about 8 per cent to Rs 225 crore. Our losses have halved from about 18 crore to Rs 9 crore," Kapoor said. The company provides services to around 10,000 schools in more than 725 cities, he said. Kapoor said that the ClassKlap, with threefold growth from FY'22 to FY'24, has become cash flow neutral and SchoolMitra accounts for almost 35 per cent of the company's revenue. Eupheus acquired ClassKlap and SchoolMitra in 2021 and 2022 respectively. These mileston

Settlement with BCCI outside lenders' scrutiny, Byju's Raveendran to NCLAT

Riju, the younger brother of founder Byju Raveendran, told the appellate tribunal that the settlement with BCCI had been finalised before the committee of creditors (CoC) was formed

Byju's fallout lingers but edtech ecosystem bets on long-term benefits

Following Byju's crash-and-burn, both industry players and investors are moving away from a valuations game to larger issues of governance and sustainable growth

NCLT asks BCCI to submit insolvency withdrawal plea before Byju's CoC

On Monday, the NCLT also asked all parties to file their replies concerning allegations that former resolution professional Pankaj Srivastava had failed to discharge his duties properly

Decide on BCCI-Byju's settlement in a week, NCLAT directs tribunal

The apex court had then asked BCCI to transfer the money in an escrow account, sending the case back to NCLT

Not given a fair hearing by NCLT: Former Byju's resolution professional

Srivastava told the NCLAT that the NCLT, Bengaluru, did not hear him in the absence of his lawyers and that the disciplinary action initiated against him was unfair

Riju Raveendran moves NCLAT against decision to reinstate 2 Byju's lenders

Riju, who is the brother of founder Byju Raveendran, has challenged a January 29 order of the National Company Law Tribunal (NCLT)

Hope 50% of our portfolio firms go public in 5 years: GSV Ventures CEO

He talks of India's edtech sector and the impact of artificial intelligence

Cash-strapped Byju's executive, biz partner found in contempt of US court

Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju's US businesses

Glas Trust, Aditya Birla Finance reinstated as lenders of edtech co Byju's

Both Glas Trust and Aditya Birla Finance were initially part of the CoC last year in August but were later removed from the reconstituted CoC by the IRP

EdTech woes: Why India's online & offline education platforms are crashing

India's EdTech sector, online and offline, is collapsing due to financial issues, safety concerns, and lack of student engagement, leaving many frustrated

Downfall of Byju's, India's hot edutech startup, wipes out US debtholders

Recoveries will need to come from how Indian courts rule on the company's broader insolvency plan and how it aims to repay creditors; it's unclear how much, may be available to those in US

Over 2,000 startups in edtech sector shut shop in past five years

Edtech platforms, which experienced unprecedented growth during the pandemic-induced lockdown, are now grappling with a funding slowdown

Unicorn boom or bust: India's best and worst performing startups in 2024

In 2024, India's startup scene showcases a mix of triumphs and struggles, with innovative leaders like Zepto rising while giants like Byju's face significant challenges

ICAI prez: Disciplinary committee probing Byju's auditing 'lapses'

Byju's financial disclosures had come under ICAI's scanner because of a 22-month delay in the submission of its financial reports

Don't want to go Byju's way: Aakash Educational Services to NCLAT

NCLAT refuses to set aside order halting move to amend AoA

Byju's woes continue: Content manager, biz partner face US court sanctions

Federal judge is considering imposing millions of dollars in sanctions on Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath, who founded Dubai-based tech startup Voizzit Technology

Byju's insolvency: Riju Raveendran moves NCLT seeking inclusion in case

Byju's US-based lenders had opposed the settlement, claiming that the money used to repay BCCI was tainted as it was part of the $533 million that had allegedly gone "missing"

Trouble mounts for Byju's as firm faces new probe over financial practices

The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju's books to ascertain if the company misreported financial statements

Byju's founder told ally to flee US to avoid testifying against him

William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire