Byju's Says FY22 Earnings Approved At AGM
NDTV Profit had earlier reported that Byju's FY22 consolidated revenue from operations stands at Rs 5,015 crore, with losses of Rs 8,245 crore.
Shareholders of Think and Learn Pvt., the owner and operator of Byju's, have approved the FY22 earnings for the edtech company.
The AGM had two agenda items—to consider and approve the standalone and consolidated financials for FY22, and approve the appointment of MSKA and Associates (BDO in India) as its auditors. Both resolutions have been passed, according to a statement.
The AGM had close to 60 shareholders in attendance.
"Founder Byju Raveendran opened the AGM with an account of the state of business and its challenges. Nitin Golani, chief financial officer-India, briefed on the audit, while India CEO Arjun Mohan provided business updates and plans. The auditor BDO later answered all questions from shareholders before the company wrapped up the interactive three-hour-long meeting," the statement said.
NDTV Profit had earlier reported that Byju's FY22 consolidated revenue from operations stands at Rs 5,015 crore. While revenue rose from Rs 2,280.2 crore in FY21, it missed the company's own guidance of Rs 10,000 crore.
Its losses swelled to Rs 8,245 crore from Rs 4,564 crore. The company hasn't commented on its consolidated numbers formally.
The numbers show that a string of acquisitions in FY21—a period of lockdowns when students went online—did not yield results. That's also when its troubles began, ultimately leading to a fracas with lenders and delaying its earnings.
