Adda247 Records Rs 115 Cr Revenue in FY23, Losses 4X

Editorial Desk · 2024-01-17T12:51:00+05:30

Adda247, an edtech platform, has reported a significant increase in revenue from operations to Rs 115 crore in FY23, a 89% jump from Rs 61 crore in FY22. However, the company's losses also surged 4X to Rs 110 crore in FY23 from Rs 28 crore in FY22, according to consolidated financial statements sourced from the Registrar of Companies (RoC). Despite the growth in revenue, the significant increase in employee benefits and advertising costs outpaced the revenue growth of the seven-year-old firm, resulting in a 4X surge in its losses.The company's revenue from operation increased to Rs 96 crore in FY23, a 2X jump from Rs 46 crore in FY22, with the sale of online courses, e-books, and test series accounting for 83% of the total operating revenue. The remaining income came from the sale of books/courseware and partner networks. The significant increase in employee benefits and advertising costs, which formed 37% of the total expenditure, outpaced the revenue growth of the company. Additionally, the burn on books/study materials, advertising, and other overheads increased by 2.6X to Rs 239 crore in FY23 compared to Rs 92 crore in FY22.

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Adda247 Records Rs 115 Cr Revenue in FY23, Losses 4X
Posted by Editorial Desk on January 17, 2024 at 12:51 pm
Adda247, an edtech platform, has reported a significant increase in revenue from operations to Rs 115 crore in FY23, a 89% jump from Rs 61 crore in FY22. However, the company’s losses also surged 4X to Rs 110 crore in FY23 from Rs 28 crore in FY22, according to consolidated financial statements sourced from the Registrar of Companies (RoC). Despite the growth in revenue, the significant increase in employee benefits and advertising costs outpaced the revenue growth of the seven-year-old firm, resulting in a 4X surge in its losses.
The company’s revenue from operation increased to Rs 96 crore in FY23, a 2X jump from Rs 46 crore in FY22, with the sale of online courses, e-books, and test series accounting for 83% of the total operating revenue. The remaining income came from the sale of books/courseware and partner networks. The significant increase in employee benefits and advertising costs, which formed 37% of the total expenditure, outpaced the revenue growth of the company. Additionally, the burn on books/study materials, advertising, and other overheads increased by 2.6X to Rs 239 crore in FY23 compared to Rs 92 crore in FY22.
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