Eruditus becomes second-largest revenue-grossing edtech firm
By MYBRANDBOOK
Eruditus becomes India’s second-largest revenue-grossing edtech firm after it reported an 87% increase in its operating revenue for FY22 at $245.2 million. This is higher than the FY22 revenues reported by edtech unicorns such as Unacademy, Physics Wallah, upGrad, and Vedantu. However, it is lower than the FY21 revenue reported by BYJU’S, which is yet to report its FY22 numbers.
However, Eruditus also posted higher losses—$348.95 million (Rs 2,645 crore) in FY22, up 32.1% from $264.2 million (~Rs 2,174 crore) in the previous year. The company follows a July-June financial year. The firm’s overall expenditure went up by 49.5% to $594.2 million (~Rs 4,504 crore) in FY22 from $397.4 million (~Rs 3,270 crore) in FY21.
The company spent $262.1 million (~Rs 2,157 crore) in FY22 on employee benefits—its largest expense, accounting for 44.1% of the overall cost. Its advertising and marketing expenses were $141.61 million (~Rs 1,166 crore) in the fiscal as against $67.09 million (~Rs 552 crore) in the year-ago period.
Eruditus offers executive-level courses from top universities. It has collaborated with universities across the US, Europe, Latin America, Southeast Asia, India, and China.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TAC SECURITY SOLUTIONS
PRAMA HIKVISION INDIA PRIVATE LIMITED
DRUVA SOFTWARE PVT. LTD.
LENOVO INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SANJAY NAYAR
Sanjay Nayar is a senior finance professional in the Indian private in...
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
PARTNER SPEAKERS
PSU
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
