The Bengaluru based Edtech Unicorn Unacademy witnessed a surge in losses for Financial Year 2022.
The company’s losses peaked up to 85 percent, which accounted for 2,848 Cr INR, while the loses reported for the last year were 1,537.4 Cr INR, as per company’s annual financial statement with Registrar of Companies.
The losses included Rs.1771.6 Cr spent on the employees benefit which was the largest expense made by the company, which contributed to 48 percent of the total expense.
This has led to the increase by 136.7 percent since in FY21 the Edtech firm spent 748.4 Cr INR.
The ESOP expenses was up to 31 percent which was 1,140 Cr INR. The current ESOP pool of the start up is valued to 400 million US dollars.
The 22 percent of the expense account for the educator’s payment, which came up to Rs. 814 Cr for the financial year 2022, which as 50.5 percent more as compared to last year.33.6% of the losses were regarding the promotional expenses.
On the other hand, the revenue of the company surged to 705.5 Cr INR this year, than the revenue generated last year which increased the revenue rate to 81 percent.
The company makes the revenue from the fees collected for course subscription by the students.
The Edtech firm generated 13.7 Cr INR by selling the study material to the students and 125 Cr INR from investments, Mutual Funds and Fixed Deposits.
Thus, the total revenue company generated sums up to 844 Cr INR in FY21.
The company had started in the year 2010 as a YouTube channel and became the educational technology platform in the year 2015.
The platform provides coaching for more than 60 competitive exams like NEET UG, IIT JEE, Bank exams, NET and so on.
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