🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Byju’s-linked exceptional costs drag Aakash into Rs 2,443 Cr loss in FY24

EntrackrEntrackr · 20d ago
Byju’s-linked exceptional costs drag Aakash into Rs 2,443 Cr loss in FY24
Medial

Aakash Educational Services Ltd (AESL) reported a loss of Rs 2,443 crore in the fiscal year ended March 2024, largely due to exceptional items linked to its parent, Think & Learn Private Limited (Byju’s). These included high finance costs and provisions related to loan defaults, repayments, and write-offs involving the related party. Aakash Educational Services’ revenue from operations remained flat at Rs 2,438 crore in FY24, compared to Rs 2,399 crore in FY23, according to its consolidated financial statements sourced from the Registrar of Companies. Aakash Educational Services offers coaching for NEET, IIT-JEE, Olympiads, and NTSE through classroom and distance learning programmes for medical and engineering aspirants. Student fees formed 96% of its total revenue and rose 2% to Rs 2,341 crore in FY24. The remaining income came from the franchisee model, which declined 8.5% to Rs 97 crore during the period. Aakash Educational Services also recorded Rs 433 crore in non-operating income, mainly from interest, manpower services, and unwinding of discounts on security deposits, which took its total income to Rs 2,471 crore in FY24. Employee benefits, which include staff and faculty expenses, formed the largest cost for Aakash Educational Services and accounted for 56% of total expenditure. This expense rose 14% to Rs 1,411 crore in FY24 from Rs 1,239 crore in FY23. Depreciation and amortization expenses also surged 28% to Rs 259 crore in FY24. Advertising and promotional expenses, study material costs, legal and professional fees, IT expenses, franchise fees, and other overheads pushed the total expenditure of Aakash Educational Services up 14% to Rs 2,532 crore in FY24 from Rs 2,225 crore in FY23. Importantly, Aakash Educational Services booked Rs 2,720 crore in exceptional items, largely related to its insolvent parent, Think & Learn Private Limited (Byju’s), which led to a net loss of Rs 2,443 crore in FY24. Of the total exceptional items, Rs 1,363 crore was recorded towards interest and loan obligations, likely linked to Byju’s, while Rs 780 crore in loans extended to the related party were written off. The company also recorded a one-time charge of Rs 100 crore as a termination fee following the end of its service agreement with Think & Learn on May 6, 2023. Other exceptional expenses included impairment of goodwill worth Rs 102 crore, write-down of intangible assets worth Rs 300 crore, and other adjustments. Aakash Educational Services declined to comment on queries sent by Entrackr seeking clarity on the exceptional items. Excluding the impact of exceptional items and deferred tax, Aakash Educational Services Limited reported a loss of Rs 61 crore during the period, compared to a profit of Rs 153 crore in FY23. These exceptional items pushed Aakash Educational Services into heavy losses; however, it remained EBITDA positive at the operational level, reporting an EBITDA of Rs 307 crore. Its ROCE and EBITDA margin declined to 6.76% and 12.57%, respectively, in FY24. On a unit level, the company spent Rs 1.04 to earn one rupee in FY24. As of March 2024, it reported current assets of Rs 315 crore, including Rs 315 crore in cash and bank balance.

Related News

Aakash losses before exceptional items and tax jump 5X in FY25; revenue dips

EntrackrEntrackr · 5d ago
Aakash losses before exceptional items and tax jump 5X in FY25; revenue dips
Medial

Fintrackr All Stories Aakash losses before exceptional items and tax jump 5X in FY25; revenue dips Aakash faced a turbulent phase over the past couple of years amid leadership exits, restructuring, and the fallout from the financial crisis at its former parent Byju’s, leading to a 16.7% revenue decline while losses surged 4.8X. Kunal Manchanada 11 Mar 2026 14:36 IST Follow UsNew UpdateAakash Educational Services Ltd (AESL) has gone through a turbulent phase over the past couple of years due to leadership exits, restructuring efforts, and the broader fallout from the financial crisis at its former parent company, Byju’s. This turmoil led to a 16.7% decline in revenue, while losses before tax and exceptional items surged 4.8 times during the period.Aakash’s revenue from operations declined to Rs 2,032 crore in FY25 from Rs 2,438 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies.Aakash primarily operates through two revenue streams, coaching and franchisee operations. The coaching segment accounted for 96% of the total operating revenue, generated from classroom programmes offered at company-owned centres. Income from this segment declined by 16.7% to Rs 1,951 crore in FY25, compared to Rs 2,341 crore in FY24.On the other hand, its franchisee model, which comprises fees and revenue sharing arrangements from partner run centres operating under the Aakash brand across different cities, also declined. Revenue from this segment fell 15.6% to Rs 81 crore in FY25 from Rs 96 crore in FY24.The company also added Rs 53 crore of other income, which tallied its overall revenue to Rs 2085 crore in the last fiscal year.As its scale declined during the year, Aakash managed to trim its overall expenses by 6.1% to Rs 2,378 crore in FY25 from Rs 2,532 crore in FY24.The decline in costs was primarily led by lower employee benefit expenses, which fell 5.6% to Rs 1,331 crore. Its advertising and promotional spending also dropped by 3.7% to Rs 157 crore, while the cost of materials, primarily study materials saw a sharper decline of 25.6% to Rs 67 crore in FY25.However, the 5.6% reduction in expenses was not enough to offset the 16.7% decline in revenue, which resulted in its losses before tax and exceptional items to surge 4.8X to Rs 293 crore in FY25.Notably, the company’s reported net loss figures were significantly impacted by deferred tax adjustments in FY25, when Aakash reported a net loss of Rs 221 crore. In contrast, the company’s losses had ballooned to Rs 2,443 crore in FY24. This was due to a series of exceptional charges, including a Rs 1,079 crore provision following an NCLT order, Rs 100 crore related to the cancellation of a services agreement with its parent company, and Rs 1,363 crore towards interest payments on debentures after default and early repayment demand.To avoid confusion caused by these one-off items, which are not directly related to the firm’s core ops, we have considered losses before tax and exceptional items to present a clearer view of its operating performance.By the end of FY25, Aakash spent Rs 1.17 to earn a rupee of operating revenue. During the year, its ROCE and EBITDA margins stood at -52.54% and 1.92%, respectively. It reported total current assets of Rs 341 crore at the end of FY25, including cash and bank balances of Rs 72 crore.Since FY25, Aakash has seen a series of developments linked to its proposed rights issue. The Supreme Court recently backed the NCLAT order allowing the company to proceed with an extraordinary general meeting (EGM) for the rights issue. The company was reportedly on the way to fresh funding, with Ranjan Pai’s family office committing to infuse Rs 250 crore into the coaching chain. It remains to be seen whether these developments will help stabilize the company and restore its growth momentum in the coming years.

Coaching chain Motion scale remains flat at Rs 108 Cr in FY25

EntrackrEntrackr · 6d ago
Coaching chain Motion scale remains flat at Rs 108 Cr in FY25
Medial

The content relevant to the URL is: Coaching chain Motion scale remains flat at Rs 108 Cr in FY25 IIT-JEE and NEET-focused bootstrapped coaching institute chain Motion reported no growth in the fiscal year ending March 2025. However, the Kota-based firm recorded a slight decline in profit in the same period. Motion’s revenue from operations stood at Rs 108 crore in FY25, marginally declining from Rs 109 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2007, Motion offers coaching programs for competitive examinations such as JEE and NEET through classroom training at its offline centres as well as online learning solutions. The firm generates revenue from course fees paid by students enrolled in its programs. The firm added around Rs 2 crore from non-operating income, which kept its total income steady at Rs 110 crore in FY25. Employee benefit expenses accounted for the largest share of the company’s spending. This cost increased 4% to Rs 49 crore in FY25 and formed nearly 48% of the total expenditure. Advertising and promotional expenses declined 8% to Rs 12 crore in the last fiscal year. Legal charges grew 33% year-on-year to Rs 10 crore during FY25, while rent expenses also rose 17% to Rs 5.2 crore. Overall, the firm’s total expense increased marginally to Rs 103 crore in FY25 from Rs 102 crore in FY24. Despite stable income, Motion’s profit declined 6.7% to Rs 5.6 crore in FY25 from Rs 6 crore in the previous fiscal year. Its ROCE and EBITDA margin improved to 12.29% and 10.74%, respectively. On a unit basis, the company spent Rs 0.95 to earn a rupee of operating revenue during the fiscal year. Motion reported total assets of Rs 115 crore in FY25, up from Rs 81 crore in FY24. It recorded cash and bank balances of Rs 10 crore, while its current assets stood at Rs 23 crore at the end of FY25. The Kota-based company has not raised any funding yet and competes with the likes of Aakash, Career Point, Allen and Resonance. Allen reported Rs 3,067 crore in FY25, while its profit plummeted 70% to Rs 41 crore. On the other hand, Aakash recorded a loss of Rs 2,443 crore in FY24, which was primarily attributed to exceptional items connected to its parent company, Byju's. During the same fiscal year, Aakash's revenue from operations remained stable at Rs 2,438 crore. The company has not yet submitted its financial reports for FY25. Motion’s flat performance in FY25 also reflected the broader trend in the coaching segment. Larger players such as Allen and Aakash also reported limited growth during the period. While Allen’s profit dropped sharply despite large revenue, Aakash’s scale is expected to remain largely unchanged in FY25. Against this backdrop, Motion’s steady revenue indicates a stable but slow-moving phase for traditional coaching institutes amid rising competition and shifting student preferences.

DailyObjects’ revenue spikes 34% to Rs 84 Cr in FY24

EntrackrEntrackr · 1y ago
DailyObjects’ revenue spikes 34% to Rs 84 Cr in FY24
Medial

DailyObjects, a Direct-to-Consumer (D2C) tech accessories and lifestyle brand, achieved a 33.6% growth during the fiscal year ending March 2024. However, the Gurugram-based firm reported a modest loss of Rs 3.9 crore in the same period as compared to marginal profit in FY23. DailyObjects’ revenue from operations grew to Rs 84.4 crore in FY24 from Rs 63.2 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. DailyObjects is a direct-to-consumer (D2C) lifestyle accessories brand offering products such as bags, wallets, charging solutions and stationery, among others. The sale of products accounted for 98.8% of the total revenue which increased by 33.6% to Rs 83.38 crore in FY24. The rest of the income came from shipping and delivery charges. For the consumer tech and lifestyle brand, the cost of procurement formed 50% of the total expense. This cost increased by 40% to Rs 42.28 crore in FY24 from Rs 30.26 crore in FY23. Its employee benefits and marketing cum advertising costs grew by 24% and 46.5%, standing at Rs 11.34 crore and Rs 14.33 crore, respectively, in FY24. The firm's spending on shipping, delivery, legal, and other overheads pushed the overall costs up by 33.3% to Rs 84.2 crore in FY24. Note: Excluding the exceptional item cost of Rs 6.14 crore, related to the write-off of previous receivables in the fiscal year ending March 2024, from the calculation of losses and expenses. Increased marketing and employee benefits costs led DailyObjects to post a loss of Rs 3.92 crore for FY24, compared to a marginal profit of Rs 0.06 crore in FY23. Its ROCE and EBITDA margin stood at -43.98% and -4.3%, respectively. On a unit basis, the company spent Re 1 to earn a rupee in FY24. It reported current assets of Rs 20.76 crore as of FY24. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $14.4 million to date. Its leading investors are Roots Ventures and 360 One.

Simplilearn revenue slips to Rs 556 Cr in FY25, cuts losses

EntrackrEntrackr · 1m ago
Simplilearn revenue slips to Rs 556 Cr in FY25, cuts losses
Medial

Simplilearn has struggled to scale up in the last fiscal year, with its operating revenue declining 26% following a sharp fall in income from its self-learning segment. However, the company managed to curb its losses with the help of expense rationalisation. Simplilearn’s operating revenue fell to Rs 556 crore in FY25 from Rs 750 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Simplilearn is a digital upskilling platform that provides training in cybersecurity, cloud computing, project management, digital marketing, and data science, among others. It offers postgraduate programs, master's programs, and certification courses. Revenue from online self-learning courses declined steeply by 95% to Rs 23 crore in FY25 from Rs 451 crore in FY24, accounting for just 4% of operating revenue. In contrast, income from live learning programs surged 65% to Rs 565 crore in FY25 from Rs 341.5 crore a year earlier. Including other income of Rs 22 crore, the company’s total income stood at Rs 578 crore in FY25. On the spending side, Employee benefit expenses, the largest cost component, fell sharply by 42.5% to Rs 187 crore in FY25 from Rs 325 crore in FY24. Advertising and marketing costs fell 35% to Rs 134 crore, while cost of materials declined 11.5% to Rs 162 crore during the year. Depreciation expenses rose 10% to Rs 63 crore. Subscription fees, however, increased 50% to Rs 24 crore in FY25. Finance costs stood at Rs 6 crore during the year. Overall, Total expenses declined 29% to Rs 621 crore in FY25 from Rs 879 crore in FY24. Simplilearn’s loss decreased by 60% to Rs 43 crore in FY25 from Rs 107 crore in FY24. It is worth noting that the company booked an exceptional expense of Rs 141 crore in FY25, primarily on account of amortisation of its content library. Since this charge is non-cash in nature, we have calculated the adjusted loss excluding the exceptional item. On a unit basis, the company spent Rs 1.12 to earn a rupee during FY25, compared to Rs 1.17 in the previous fiscal year. As of March 2025, Simplilearn reported cash and bank balances of Rs 145 crore, down from Rs 236 crore in FY24. Its current assets stood largely flat at Rs 319 crore. According to startup data intelligence platform TheKredible, Simplilearn has raised over $118 million to date, having Blackstone and GSV Ventures as its lead investors.

Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24

EntrackrEntrackr · 1y ago
Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Medial

Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.

Vedantu posts Rs 227 Cr revenue in FY25

EntrackrEntrackr · 1m ago
Vedantu posts Rs 227 Cr revenue in FY25
Medial

Vedantu posts Rs 227 Cr revenue in FY25 Edtech unicorn Vedantu reported a 23% year-on-year growth in revenue in the fiscal year ended March 2025, but a sharper rise in expenses led to a 25% increase in its pre-tax losses, which crossed Rs 200 crore. Vedantu’s revenue from operations grew 23% to Rs 227 crore in FY25 from Rs 185 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). The firm’s core offerings include online classes for grades 6 to 12, along with study materials for grades 1 to 12 and JEE preparation. The company also launched several offline coaching centers in recent years. Income from online tutoring accounted for 87% of Vedantu's total operating revenue, which increased by 19% to Rs 197 crore in FY25 from Rs 166 crore in FY24. Book sales more than doubled to Rs 22 crore, while the remaining revenue came from hostel fees and e-learning projects in FY25. On the spending side, employee benefit expenses remained the largest cost center, accounting for 49% of the total expense. This cost rose 24% to Rs 219 crore in FY25 from Rs 176 crore in FY24. Advertising expenses went up 17% to Rs 27 crore, while depreciation costs climbed to Rs 69 crore from Rs 58 crore in FY24. Overall, Vedantu’s total expenses rose 21% to Rs 444 crore in FY25 from Rs 368 crore a year earlier. The company’s loss before tax increased by 25% to Rs 210 crore in FY25 from Rs 168.5 crore in FY24. Importantly, the company booked an income of Rs 77 crore as exceptional items (non-cash). If we include this, net losses came down to Rs 123 crore in FY25. The exceptional item relates to Ace Creative Learning Private Limited (Deeksha), under which the Company holds a call option and the founders hold a put option to buy or sell shares at an agreed consideration. During the year, the Company reduced the fair value of the deferred consideration, recognising a non-cash income of Rs 93.1 crore (Rs 77.4 crore post-tax), which has been classified as an exceptional item and excluded from the computation of operational losses. Its ROCE and EBITDA margin stood at -92.86% and -61.23%, respectively. On a unit basis, Vedantu spent Rs 1.96 to earn a rupee of operating revenue during the year. As of March 2025, the Bengaluru-based firm had cash and bank balances of Rs 40 crore, while its current assets stood at Rs 101 crore. According to startup data intelligence platform TheKredible, Vedantu has raised a total of $348 million in funding to date, with Tiger Global, Coatue, Accel, and Omidyar Network as its lead investors.

Download the medial app to read full posts, comements and news.