Unacademy’s FY23 Loss Falls 41% To INR 1,678 Cr, Posts INR 907 Cr Revenue

Unacademy’s FY23 Loss Falls 41% To INR 1,678 Cr, Posts INR 907 Cr Revenue

SUMMARY

Unacademy’s operating revenue rose 26% to INR 907 Cr in FY23 from INR 719.2 Cr in FY22

The startup’s total expenditure dropped 26% to INR 2,734.2 Cr in FY23 from INR 3,702.8 Cr in FY22

This comes after two tough years for the edtech startup; it has laid off over 2,000 employees since the beginning of 2022

Gaurav Munjal-led Unacademy narrowed its consolidated net loss by almost 40% in the financial year ended March 31, 2023 on the back of a sharp reduction in costs. The Peak XV Partners-backed edtech startup reduced its loss to INR 1,678.1 Cr in the financial year 2022-23 (FY23) from INR 2,847.9 Cr in the previous fiscal. 

Founded in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh, Unacademy currently claims to have a network of 91K registered educators (teachers) and over 99 Mn learners. It caters to students in over 14 Indian languages across cities. Besides Unacademy, the group counts Graphy, UnacademyX, NextLevel, and Prepladder among its subsidiaries. 

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