This Edtech Unicorn Turned Profitable After Tripling Its Revenue in FY19 BYJU's recorded a revenue of INR 1,341 crore for fiscal year 2019

By Shreya Ganguly

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

Increased Internet penetration and availability of smartphones has made its way into making the world smaller. Technology is also disrupting the education market where the former is leveraged to make learning more engaging and reach students at places with poor schooling infrastructure. One of the giants in this space, BYJU's turned profitable and recorded a revenue of INR 1,341 crore for the fiscal year which ended on March 31, 2019. This is thrice the amount of INR 490 crore in FY18.

According to the edtech Unicorn, deeper penetration of its services across India and increase in numbers of paid subscribers are the primary drivers of growth.

"We have exceeded our financial goals that we set at the beginning of the year. Expanding our base across smaller towns and cities and introducing new products have been pivotal to our growth. With 60 per cent of our students based outside the metros, the aspiration and need for quality learning has never been higher," said Mrinal Mohit, chief operating officer, BYJU's.

BYJU's Growth In Numbers

According to the company, it recorded a net profit of INR 20 crores in FY 18-19. Its gross revenues also increased to INR 1480 crores from INR 520 crores, last fiscal.

BYJU's claims to have over 40 million registered users and 2.8 million paid subscribers currently. According to the company, the average number of minutes a student spends on the app has increased from 64 minutes to 71 minutes per day over the last 12 months and the annual renewal rates are as high as 85%.

"This year, we also launched our product for young learners (Grades 1-3), which completed our learning offerings from grades 1 - 12. We are also planning to reach out to deeper parts of India by launching programs in vernacular languages. We strongly believe that we have the capability to create a global product that can revolutionize learning for students across the world," Mohit said.

Future Plans

The company is now aimed at doubling its revenue to INR 3,000 crore for the current financial year. Apart from this, Mohit also revealed that the company will also soon launch BYJU's online tutoring which will further accelerate growth and profitability for the current fiscal.

Edtech Market in India

The online education market is expected to grow to $1.96 billion by 2021, a 52 per cent compounded annual growth from 2016, according to a 2017 report published by Google and research firm KPMG.

Online disruption in the education market takes the classroom directly inside the homes of the students thereby getting wider reach. Apart from this, technological development is making education a more interactive experience for children, thereby increasing their engagement rather than one-way classroom lectures. Also, online lectures allow one-on-one attention to students to help them grow at their own pace.

Currently, apart from BYJU's notable players such as Unacademy, Toppr, Safeducate and GradeUp are looking to disrupt the edtech market.

Shreya Ganguly

Former Features Writer

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

'Boring' Businesses Are Making Millionaires — and You Can Borrow Their Strategies For Success

The silent growth strategy reveals how understated, steady businesses are quietly creating wealth for entrepreneurs in 2025. By focusing on long-term consistency and incremental progress, these "boring" industries are proving to be gold mines for those willing to embrace stability over hype.

News and Trends

goSTOPS Raises INR 35 Cr in Series A to Expand Youth Travel Hostel Network

goSTOPS will use the fresh funding to expand to 10,000 beds across 100 locations, enhance operations, upgrade technology, and improve social experiences, solidifying its position as a leading youth travel brand.

News and Trends

AmpereHour Energy Secures $5 Million in Series A Funding to Drive Energy Storage Expansion

The fresh funding reinforces AmpereHour Energy's position as a key player in the energy storage market, driving the transition to renewable energy with reliable, scalable, and cost-effective solutions.

Business News

YouTuber MrBeast Makes More Money From His Side Hustle Than From His YouTube Videos

The 26-year-old creator has racked up hundreds of millions of views and subscribers on YouTube, but it isn't his main moneymaker.

News and Trends

AI-Powered Admissions Startup Ambitio Secures USD 2 Mn Funding

The fresh capital will be used to enhance its AI-driven technology and expand its distribution channels, the company announced.