Think & Learn Private Limited, the parent company of online education platform Bjyu's, has seen a 97% jump in its advertising promotional expenses at Rs 881.1 crore for the fiscal ended March 2020 as against Rs 447.8 crore in the previous fiscal.
According to financial data accessed by business intelligence platform, Tofler, Think & Learn reported consolidated revenue of Rs 2,434 crore, an 81 % jump since the last financial year. The company further reported a net profit of Rs 51 crore, which is 152% increase compared to Rs 20.16 crore in the previous fiscal. This is from the last financial year. The company’s total expenses for the fiscal were reported at Rs 2,383 crore compared to Rs 1321.6 crore.
The company noted that it had crossed the break-even point and had earned a nominal profit of Rs. 19.63 crore, after providing for comprehensive loss during the previous financial year. It also said that there was a significant increase in the revenue from operations during the current financial year also and the company has continued the growth in its operational and financial performance and has earned a profit of Rs. 48.19 crore after providing for comprehensive loss.
Byju's is India's most valuable unicorn startup, with a valuation of $16.5 billion. According to media reports, Byju’s has over 100 million students on the app and 6.5 million annual paid subscribers.
The edtech company has an aggressive marketing strategy to maintain its dominance in the market. Shah Rukh Khan is Byju's brand ambassador. Besides being the official sponsors of the Indian cricket team, it is also an official sponsor of International Cricket Council (ICC).