Byju's small profit in 2019 is a big deal given most others are deep in the red
- Indian edtech unicorn
Byju’s has reported a profit of ₹20 crores in FY19.
- The startup cut down losses by 76%, while every other Indian unicorn has been reporting losses.
Swiggytoo posted a loss of ₹2,367 crore even as its revenue grew.
AdvertisementIndian edtech unicorn Byju’s is one of those rare unicorns which reported a profit of ₹20 crore in FY19. The startup also cut down its losses by over 76% to ₹8.8 crore in from ₹37.1 crore in FY18.
Byju’s profitability comes from its high paid user base which now stands at 2.8 million.
“Expanding our base across smaller towns and cities and introducing new products have been pivotal to our growth. We will also be launching Byju’s Online Tutoring which will further accelerate growth and profitability in the coming year,” said Mrinal Mohit, chief operating officer, Byju’s.
Byju’s rise in profitability comes at a time when every other unicorn is reeling under losses.
Swiggy’s losses stand at a whopping ₹2,367 crore for FY19, a huge jump from ₹385 crore in FY18. Swiggy said that the year had been a strong year of execution where its order volumes went up by 4.2 times and operating revenue increased by 2.8 times.
“During the year, we made many strategic bets and investments in technology, brand and supply creation that have been the drivers of category growth in Indian food delivery and will bear fruit in Swiggy’s vision,” said a Swiggy spokesperson.
A valuation report sourced on
Food aggregator unicorn Zomato reported a loss of $294 million for the financial year ending March 2019. However its revenue grew to touch $206 million (₹1459.7 crore).
2019 roundup so far: Startups are growing bigger but by widening losses
AdvertisementPaytm posts a massive ₹4,217 crore loss as it continues to spend on branding
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