Byju – one of the biggest tech startups in the India is not losing its money any more. On Tuesday, his education tech startup had declared about a total profit of about $2.8 million on the revenue of $188.8 million in this financial year which ended in the March of this year.
During this period, the revenue of this startup has increased to $208 million from $73.2 million. The 8 years old startup has their headquarter in the Bangalore which possess a value of $5.75 billion in the previous financing round in the earlier period.
The Chief Strategy Officer of the Byju named Anita Kishore told to TechCrunch that the startup had included taxes as well as all other expenses in the net profit and they were very happy at that time.
Furthermore, in comparison, the startup had reported that they had faced a loss of $4 million on the revenue of $69 million in fiscal year which ended in the March of the previous year. Besides, the improvement in the financial status of the startup comes since it is working on counting the students to the subscription service though the tactic – “sign up customers” – had received a few criticisms.
The startup aids all the school going children to understand the complex subjects through the app where the tutors utilize real life objects like cake and pizza and has amassed around 2.8 million paying subscribers from 2.4 million in July. It has been estimated that the startup has amassed 40 million registered users.