Embattled Indian ed-tech giant Byju's on Saturday reported audited results for 2022, but only for its core business, not including its multi-billion dollar acquisitions, after a year-long delay due to governance issues and its auditor resigning.
Byju's parent Think & Learn's operating losses fell 6% to 24 billion Indian rupees ($288.67 million) for its core online education business, while revenue more than doubled to 35.5 billion Indian rupees ($426.99 million) for the year ended March 31, 2022.
Byju's, controlled by billionaire Byju Raveendran was one of India's hottest startups, valued at $22 billion in 2022, but has faced a series of business crises including its auditor Deloitte and board members resigning and a US lawsuit disputing terms and payment of a billion dollar loan.