CollegeDekho’s Loss Flat At INR 129 Cr In FY24

SUMMARY

CollegeDekho’s parent Girnarsoft Education Services Pvt Ltd reported a consolidated net loss of INR 128.8 Cr in FY24, a marginal 0.3% decline from INR 129.1 Cr in the previous financial year

Revenue from operations zoomed 32.2% to INR 215.6 Cr during the year under review from INR 163 Cr in FY23

Founded in 2015 by Ruchir Arora, Saurabh Jain, Rohit Saha, and Rajiv Singh, CollegeDekho provides a gamut of services in the higher education segment

Higher education services platform CollegeDekho’s parent Girnarsoft Education Services Pvt Ltd reported a consolidated net loss of INR 128.8 Cr in the financial year 2023-24 (FY24), a marginal 0.3% decline from INR 129.1 Cr in the previous financial year, despite a sharp rise in its top line.

CollegeDekho’s revenue from operations zoomed 32.2% to INR 215.6 Cr during the year under review from INR 163 Cr in FY23.

Including other income of INR 6.3 Cr, the startup’s total revenue rose 29.6% to INR 221.9 Cr from INR 171.1 in FY23.

Founded in 2015 by Ruchir Arora, Saurabh Jain, Rohit Saha, and Rajiv Singh, CollegeDekho provides a gamut of services in the higher education segment, including test preparation, college selection, and application assistance.

The startup has raised about $93 Mn from investors like Winter Capital Partners (acquired by Rockstone Ventures), ETS Strategic Capital, Calega, QIC, and Man Capital. It last raised $9 Mn from existing investors in its extended Series B round at a valuation of $138 Mn in July last year.

CollegeDekho claims to have counselled more than 1.2 Mn students till date and worked with close to 2,000 colleges.

It competes against the likes of LeverageEdu, CollegeDunia, Embibe, and GetMyUni.

CollegeDekho FY24 Expenses

Where Did CollegeDekho Spend?

The startup’s expenses grew at a slower pace than the rise in its operating revenue. Total expenditure grew 15.5% to INR 348.9 Cr in FY24 from INR 302.1 Cr in the previous fiscal year.

The FY24 expenses included a one-time expense of impairment loss on investment of INR 11.3 Cr, accounting for about 3% of the overall expenses in the year.

Here’s a breakdown of its expenses:

Employee Benefit Expenses: CollegeDekho’s spending under the head declined 5% to INR 156.2 Cr from INR 164.4 Cr in FY23. However, employee costs accounted for 44.8% of the expenses in FY24.

Advertising Expenses: About 27.8% of its overall expenses was spent on advertisements and promotions, with spending under the head rising 34.7% to INR 96.9 Cr in FY24 from INR 72 Cr in the previous financial year.

Provision For Doubtful Debts: The startup set aside INR 19.4 Cr for doubtful debts, an increase of 41.4% from INR 13.7 Cr in FY23.