Byju’s claims to have tripled its revenues to Rs 1,430 crore in FY19

The edtech company also claimed it had turned profitable on a full-year basis, without disclosing the exact profit number. Byju’s had reported a loss of Rs 29 crore on revenues of Rs 490 crore in FY18.

The company said growth came from penetrating deeper into the Indian market and growing its paid user base to 2.4 million from 1.26 million in June 2018.

It now plans to introduce content in regional languages, moving beyond just English and Hindi.

“We have witnessed significant growth in the number of students learning from us. and today, 60% of our students are from outside the top 10 cities. This high adoption rate is a clear indication that online learning is fulfilling a crucial need and is here to stay,” said Byju Raveendran, founder and CEO of Byju’s.

Byju’s claims to have already reached a monthly run rate of Rs 200 crore due to high renewal rates, which on average are at 85% with some grades exceeding the 90% mark.

The company claims it is on target to touch revenues of nearly Rs 3,000 crore in the current financial year.

ET recently reported that Byju’s had partnered with Disney to introduce a new learning app targeted at the K-3 segment.

While it is structured as a revenue-share model with the media giant, Byju’s plans to expand into new regions such as the United States, UK, and Australia on the back of Disney’s universal appeal.

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