India’s most valuable education tech startup Byju’s has seen profit more than double to Rs. 50.76 crores in Financial Year 2020. It reported standalone income from operations Rs. 2,110 crores. It received from its three major business operations such as Tuition fees (Rs. 144 crores), sales of education tablets, and SD cards (Rs. 1,675 crores), and sale of reference books (Rs. 560 crores).
On a standalone basis, the company reported a net profit of Rs. 20.16 crores and Rs. 1,281 crores in operations revenue in FY19.
On a consolidated basis, the revenue gained over 82% to Rs. 2,380.70 crores in FY20 as compared to Rs. 1,306 crores in FY19.
In the fiscal, the company has reported Rs. 255.39 crores as employee benefits expenses. Now, it increased to Rs. 322.81 crores in FY20.
Stock market updates:
On Sep 7th, the Indian rupee slipped around 7 paise to 73.17 against the US dollar in the overseas market. At the interbank foreign exchange, the rupee opened at 73.12 against the dollar. Later, the rupee value fell to 73.17.
Further, on the domestic equity market front, the S&P BSE index was trading 243.37 points lower at 58,053.54 level. The Nifty 50 Index was trading 79.55 points lower at 17,298.25 level.
Must Read: Reliance Shares records new high levels
“LEARN EVERY DAY, BUT ESPECIALLY FROM THE EXPERIENCES OF OTHERS. IT’s CHEAPER!”
Currently, India has 3,92,864 active cases. In the last 24 hours, India registered around 31,222 new COVID-19 cases. At the same time, around 290 people died due to the COVID infection in India, as of the government data. On the other hand, around 42,942 people were recovered.
On Tuesday, ITC and Asian Paints are the top gainers. Further, IRCTC and Reliance share are the most active stocks. The share price of IRCTC raised around 140.04 points at Rs. 3,164.18. Now, the stock is traded at Rs. 3,138.05 with a gain of 129.65 points.
Reliance shares traded at Rs. 2,422.40 with a loss of 3.20 points. The stock reached a day-high price of Rs. 2,453 and a low price of Rs. 2,412.
Further, the share of ITC and Asian Paints raised around 1.89% and 1.29% at Rs. 213.30 and Rs. 3,358.