Byju's cuts losses by more than half, revenues jump 97% at Rs 489 cr

The improved financial performance of Byju's comes at a time when the company saw its valuation soaring to $3.8 billion

Education technology start-up Byju’s has cut down its net losses by more than half while at the same time improving its revenues by more than twofold as it gears up for a global foray.

According to its filing with the registrar of companies sourced through business intelligence platform Tofler, the Bengaluru-headquartered company reported a net loss of Rs 29 crore in the fiscal year ended 31 March 2018, a reduction of 53 per cent over the last financial year. 

The revenues of the company, however, saw a steep jump of 97 per cent at Rs 489.87 crore, backed by its increased base