Byju: Byju’s in trouble again suffers loss of Rs 2250 crore, debt crisis deepens

Indian education startup Byju’s has once again suffered a big loss. In such a situation, the challenges of the company which is already stuck in debt of $1.2 billion have increased. Bengaluru-based online education company Byju’s parent company Think and Learn Pvt has reported a loss of Rs 2250 crore at the end of the financial year in March 2022. However, the company’s income has doubled to Rs 35.7 billion.

Company’s growth slowed down after Corona epidemic

Byju’s, which once emerged as the leading company of startup culture in India, became very strong during the Corona epidemic, but in the post-Corona epidemic, the company is facing a lot of struggle. During the Corona epidemic, when schools and colleges were closed, the company invested a lot. During this period, the company also received a lot of investment, but as soon as schools and colleges opened after the Corona epidemic, the growth of the company also slowed down. The company has a debt of 1.2 billion dollars and the company is also in dispute with its creditors.

Company surrounded by many difficulties

The delay in filing financial results also led to the scrutiny of Byju’s accounts by the regulatory agency, leading to the resignation of the company’s auditor Deloitte & Sells. In April, investigating agencies also raided the company’s premises in Bangalore due to irregularities in foreign exchange regulation. Many US-based investors also accused Byju’s of hiding funds worth about $500 million, due to which the company got into legal trouble.