Eruditus FY23 Revenue Soars to Rs. 3,320 Crores

FY23 (Jul’22 to Jun’23) period 

• Revenue as per IFRS audited financials grew from Rs. 1,900 Crores in FY22 to Rs.  3,320 in FY23 representing a growth rate of 75% YoY. 

• Total expenses (excluding finance cost and taxes) reduced by 17% in FY23 over  FY22. 

• Marketing expenses as a percentage of revenue reduced from 56% to 29% o Employee expenses (excluding non-cash share appreciation expense) as a  percentage of revenue reduced from 46% to 27% 
• Other operating expenses as a percentage of revenue reduced from 13% to  9% 

• Adjusted EBITDA (EBITDA excluding non-cash expenses such as depreciation,  amortization, expense for share appreciation rights etc.) stood at -13% in FY23. 

Eruditus FY 23 Financials: Rs. Crore. 

(FY 23 is 1 Jul 2022 to 30th Jun 2023) 

The above figures are taken from the audited financials statements (please see Directors  statement for easy reference). 

Exchange rate for USD to INR conversion taken at 82 for FY23 and 77 for FY22, wherever  applicable

Business Highlights 

• Eruditus is the largest edtech player in India based on published financials FY23 Revenue of top edtech players: 

FY23 audited financials for Byju’s unavailable 

• Eruditus served 250,000 students across 80+ countries in FY23. 

• Company works with 80+ world class university partners globally and offers 1,000+ courses in topics such as Artificial Intelligence, Data Science, Coding, Finance,  Business, Leadership etc. 

• Signed new world-class partners to global portfolio, including Johns Hopkins Carey  Business School, Stanford Med School, Nanyang Technological University (NTU)  and Sasin School of Management. 

• In partnership with GSV Ventures, launched the preeminent Education and  Workforce Leadership Summit in India, bringing together policy makers, investors,  educators, entrepreneurs and industry leaders to shape the future of learning, with  notable speakers including Smriti Irani, Nandan Nilekani and organizations  including The Gates Foundation, CZI, Harvard, MIT, ASU, Blackstone and Accel. 

• The Eruditus team was recognized for exemplary work by the GSV 150, the EdTech  Leadership Awards, the Think Global Awards and the IIA Leadership Awards.