BYJU’S may file FY22 financials soon: Report
The edtech unicorn had filed the FY21 financials in September 2022 after an 18-month delay.
Edtech firmmay file its results for the financial year 2022 (FY22) soon, according to a media report.
The New Indian Express has reported that the Bengaluru-headquartered company is likely to file the financial numbers for FY22 with the Ministry of Corporate Affairs anytime soon.
The edtech decacorn had filed the FY21 financials with regular accounting bodies in India after an 18-month delay in September 2022. It losses widened to Rs 4,564.38 crore in FY21, 14X more than the loss of Rs 305.5 crore in FY20.
Other edtech unicorns such as Unacademy, upGrad, Vedantu, PhysicsWallah and Eruditus have filed their FY22 financials.
Last month, BYJU'S appointed Ajay Goel as its chief financial officer amid a delay in filing the FY22 financials with the Registrar of Companies.
On Saturday, the Enforcement Directorate (ED) searched three premises in Bengaluru linked to the company, over alleged foreign exchange law violations. Searches at Think & Learn Private Limited (BYJU'S parent) yielded “various incriminating documents and digital data was seized”, according to the ED.
The ED has said that Think and Learn Pvt Ltd has not prepared its financial statements since the 2020-21 fiscal and has not got the accounts audited, which is mandatory.
“The recent visit by the ED is an enquiry under FEMA. The information requested by and furnished to the officers in connection with the FDI raised, overseas investments made, and cross-border transactions relating to marketing and branding activities by BYJU'S has previously been submitted by our authorised representatives,” said Byju Raveendran, CEO of the company, in an internal memo to employees.
Edited by Suman Singh