upGrad reports Rs 626.61 crore loss in FY22

The edtech firm’s AdEx has risen by 90%

by exchange4media Staff
Published: Nov 10, 2022 4:12 PM | 1 min read

Edtech start-up upGrad has reported a wider loss in its FY 2022 results as the company saw higher employee benefits cost amid a downturn in the ed-tech industry in India.

The company reported a loss on a consolidated basis of Rs 626.61 crore for the financial year ending 31 March, 2022.

The ad expenses of the company rose more than 90% to Rs 393.68 crore.

Meanwhile, employee benefits cost for the year surged to 278.59 crore from 156.79 crore last year.

UpGrad, which also makes money through commissions from partnering with universities and colleges, saw an uptick in its revenues in FY 2022 on a standalone basis to Rs 519.39 crore from Rs 328 crore last year.

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Published On: Nov 10, 2022 4:12 PM

Tags Upgrad edtech FY22