Adda247 reports 88% growth in revenue in FY24 to Rs 243 Cr
Adda247 attributed the growth to existing verticals across government job exams, UPSC and newly introduced K13 verticals which contributed 15% to the total revenue.
Google-backed multilingual learning platform registered a revenue of Rs 243.39 crore in the financial year ended March 31, 2024, with a year-on-year (YoY) growth of 88% from Rs 129.65 crore earned in the previous fiscal year.
The platform saw a 66% reduction in net loss, it said in a statement.
Adda247 offers online preparation courses for over 500 examinations. The company’s revenue is primarily generated from its app-based offerings, encompassing paid video courses, live classes, and educational books.
The company also said it saw a predominantly organic growth in the user base with over 60% growth in the number of paid subscribers in FY24.
“Sustainable growth has always been our key focus, and we are especially enthusiastic about our recent expansion into the skilling and higher education sectors” stated Anil Nagar, Founder and CEO of Adda247.
As per the statement, the company's active user base reached 40 million driven by targeted vernacular strategies in key regions and languages, including the Hindi belt and Southern and Eastern states, as well as Marathi, Punjabi, and Gujarati.
Earlier this month, the company announced its expansion into skilling, up-skilling, and higher education sectors with the appointment of Bimaljeet Singh Bhasin as CEO for the category.
(The story was updated to correct a typo.)
Edited by Kanishk Singh