Summary – Vedantu Datalabs’ FY23 Financial Performance
• Reduced consolidated net loss by 46% to INR 372.6 crore from INR 696.2 crore in FY23.
• Operating revenue decreased by 8% to INR 152.5 crore.
• Vedantu Datalabs, India’s premier online tuition organization, offers personalized learning with cutting-edge technology.
• The company was founded in 2014 and derived its name from Sanskrit words Veda (knowledge) and Tantu (network).
Vedantu Datalabs, a Bengaluru-based K-12 edtech business, managed to reduce its consolidated net loss in the fiscal year ending March 31, 2023. The Vamsi Krishna-led startup’s loss fell 46% to INR 372.6 crore in fiscal year 2022-23 (FY23) from INR 696.2 crore the prior year.
However, Vedantu revenue from operations decreased during the fiscal year in question. Its operating revenue in FY23 was INR 152.5 crore, down 8% from the previous year’s INR 166 crore.
Vedantu is India’s premier online tuition organization, offering personalized learning. Vedantu provides exceptional education with cutting-edge technology, bringing India’s top teachers and students together in a LIVE interactive e-classroom.
The company was founded in 2014.Its name is derived from the Sanskrit words Veda (knowledge) and Tantu (network).
The organization is led by IIT grads Vamsi Krishna (co-founder and CEO), Pulkit Jain (co-founder and head of product), Saurabh Saxena (co-founder), and Anand Prakash (co-founder and head of academics).
Previously, the team founded Lakshya, which was acquired by MT Educare (a subsidiary of Zee Learn) in 2012.
The startup’s principal source of income was tuition fees for its online courses, which fell 13% to INR 144.3 Cr during the fiscal year under review from INR 166 Cr in FY22.
Including other income, total revenue fell 9% to INR 174.7 crore in FY23 from INR 191.8 crore the previous year
CONCLUSION : Vedantu Datalabs, a Bengaluru-based K-12 edtech startup, reduced its consolidated net loss by 46% to INR 372.6 crore in FY23, but experienced a decrease in operating revenue by 8%.