Byju’s Reveals $271 Million Loss Amid Deepening Debt Dispute
- Losses in its boom period show challenges for the company
- Think & Learn operating loss narrowed marginally in FY22
A Byju Tuition Center in Mumbai.
Photographer: Indranil Aditya/BloombergThis article is for subscribers only.
Indian education startup Byju’s first results in years revealed that losses at its parent company narrowed only marginally amid a pandemic-era boom in business, underscoring challenges for the firm embroiled in a dispute with creditors over a $1.2 billion loan.
The Bengaluru-based online tutoring firm’s parent Think & Learn Pvt. posted a loss of 22.5 billion rupees ($271 million) at an operational level in the financial year ending March 2022, compared with a 24 billion rupees loss a year earlier, it said in an emailed statement. Total income for the firm more than doubled to 35.7 billion rupees.