{"id":1278117,"date":"2024-01-24T14:03:51","date_gmt":"2024-01-24T08:33:51","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1278117"},"modified":"2024-01-24T14:04:45","modified_gmt":"2024-01-24T08:34:45","slug":"after-22-months-delay-byjus-report-fy22-results-loss-of-rs-8245-crore-ready-to-cut-valuation-by-90-for-raising-more-funds","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/after-22-months-delay-byjus-report-fy22-results-loss-of-rs-8245-crore-ready-to-cut-valuation-by-90-for-raising-more-funds\/","title":{"rendered":"After 22-Months Delay, Byju’s Report FY22 Results: Loss Of Rs 8245 Crore | Ready To Cut Valuation By 90% For Raising More Funds"},"content":{"rendered":"\n

Byju\u2019s has filed FY22 financial statements with the Ministry of Corporate Affairs on January 23. However, this is after almost 22 months<\/a> after the reporting period ended.<\/p>\n\n\n\n

\"After<\/figure>\n\n\n\n

The company has reported an increase of 118% from Rs 2,428 crore in FY21 to Rs 5,298 crore in FY22. Whereas, in FY22, losses of the company increased from Rs 4,564 crore in FY21 to Rs 8,245 crore in FY22.<\/p>\n\n\n\n

Byju\u2019s Filed FY22 Financials<\/strong><\/p>\n\n\n\n

Byju\u2019s FY22 financials have shown that 69% of the operating revenue has been received from domestic sales and the remaining has been received from exports.<\/p>\n\n\n\n

The company\u2019s earlier disclosures have revealed that the company\u2019s standalone revenue has increased to Rs 3,569 crore, with an EBITDA loss of Rs. 2253 crores.<\/p>\n\n\n\n

Byju\u2019s is looking to raise $100 million at a valuation of less than $2 billion. This is a reduction of 90%<\/a> from its last funding round, where the company was valued at $22 billion.<\/p>\n\n\n\n

BlackRock has a stake of less than 1% stake in Byju\u2019s and has reduced Byju\u2019s valuation to $1 billion from of $22 billion in early 2022.<\/p>\n\n\n\n

As per reports, valuation cuts by investors over the past year have made for a challenging financial situation for Byju\u2019s. The company has already fired thousands of employees in the last two years while suffering a lack of venture capital funding and slowing demand for online learning services.<\/p>\n\n\n\n

Byju\u2019s Auditor\u2019s Note<\/strong><\/p>\n\n\n\n

As per Byju’s FY22 auditor, there a material uncertainty due to large losses and a $1.2 billion loan.<\/p>\n\n\n\n

He further said, \u201cHowever, as further explained in the Note, the management has undertaken various measures to improve its operating financial condition, is also in the process of securing necessary funding arrangements and exploring sale of assets as needed, and hence is confident regarding the future viability of the Group.\u201d<\/p>\n\n\n\n

As per Byju\u2019s, Whitehat Jr and OSMO are underperforming, and make up for about 45% of the losses. Nitin Golani, Chief Financial Officer, BYJU’S, stated, \u201cWhile we are happy that our total income has grown 2.2X, we are also aware of our underperforming businesses like Whitehat Jr and OSMO which contribute to 45% of the losses. We have taken various measures to improve our operating financial conditions. These businesses were scaled down significantly to cut losses in the subsequent years while other businesses continue to see growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Byju\u2019s has filed FY22 financial statements with the Ministry of Corporate Affairs on January 23. However, this is after almost 22 months after the reporting period ended. The company has reported an increase of 118% from Rs 2,428 crore in FY21 to Rs 5,298 crore in FY22. Whereas, in FY22, losses of the company increased […]<\/p>\n","protected":false},"author":25,"featured_media":1278118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[303],"class_list":["post-1278117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-byjus"],"acf":[],"yoast_head":"\nAfter 22-Months Delay, Byju's Report FY22 Results: Loss Of Rs 8245 Crore | Ready To Cut Valuation By 90% For Raising More Funds - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/after-22-months-delay-byjus-report-fy22-results-loss-of-rs-8245-crore-ready-to-cut-valuation-by-90-for-raising-more-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"After 22-Months Delay, Byju's Report FY22 Results: Loss Of Rs 8245 Crore | Ready To Cut Valuation By 90% For Raising More Funds - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Byju\u2019s has filed FY22 financial statements with the Ministry of Corporate Affairs on January 23. 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