InvestorQ : Why have the losses of Unacademy widened so sharply in FY21?
Archita Jajjoo made post

Why have the losses of Unacademy widened so sharply in FY21?

Answer
image
Niti Shenoi answered.
1 week ago
Follow

Unacademy, one of the many Edtech platforms in India to benefit from the education wave created by Byju’s, reported sharply wider net losses despite a very sharp growth in revenues for the fiscal year 2021. In fact, the net loss widened nearly 6 times from Rs.259 crore in FY20 to Rs.1,537 crore in FY21. During the same period, sales revenues also jumped from Rs.65 crore to Rs.398 crore yoy a clear 6-fold leap.

The losses at Unacademy were caused by a sharp spike in employee benefit expenses at Rs.749 crore. Promotion expenses also remained high. During the year Unacademy has acquired several learning platforms under its inorganic plans, including Prepladder, Ono Labs, Pilani Experts and US based US-based Graphy.

0 Views