B2B edtech firm Eupheus Learning made a comeback with a three-fold growth in scale in FY22 after recording a dip in the previous fiscal year owing to the pandemic-driven restrictions. The Delhi-based startup also managed to control losses by 35% in FY22.
Its revenue from operations surged 2.95X to Rs 68.22 crore in FY22 from Rs 23.1 crore in FY21, according to its consolidated annual statements filed with the Registrar of Companies.
Eupheus Learning describes itself as a school-focused distribution platform with a classroom-first curriculum focussed approach. The sale of printed books formed 98.6% of the revenue, while the rest of the income was from the sale of digital products.
The company also had an interest income of Rs 2.76 crore during FY22.
Cost of procurement formed its largest cost center for Eupheus Learning while the employee benefit, discount on sales, sample books, and logistics cost combined took its overall cost up by 23.7% to Rs 80.9 crore in FY22 from Rs 65.4 crore in FY21.
With the spurged-in scale and good control over the cost, losses of Eupheus Learning declined 35% to Rs 20.5 crore in FY22. On a unit level, the company spent Rs 1.19 to earn a unit of operating revenue.
The Lightrock-backed company aimed to cross gross revenue of Rs 290 crore in FY23. For this, the company is actively seeking opportunities for inorganic growth, evident in their acquisitions of ClassKlap and SchoolMitra in FY22.