HomeStartupOffline IIT preparation platform "FIITJEE" posts Rs 542 Cr revenue & Rs...

Offline IIT preparation platform “FIITJEE” posts Rs 542 Cr revenue & Rs 69 crore in FY23

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FIITJEE's Fortunate 40- The golden way to help an underprivileged child
  1. FIITJEE experienced a 21% increase in scale during FY23, with revenue from operations rising to Rs 542 crore from Rs 448 crore in FY22.
  2. Despite revenue growth, the company reported a loss of Rs 69 crore in FY23 compared to a profit of Rs 37 lakhs in FY22.
  3. The revenue sources for FIITJEE primarily include tuition, examination, infrastructure fees, admission fees, and sales of study materials.
  4. Employee benefits formed 55% of the total expenditure, rising by 37.2% to Rs 347 crore in FY23, including directors’ salaries amounting to Rs 21.4 crore.
  5. The company’s advertising spending surged by 45% to Rs 103 crore, contributing to a total expenditure increase of 37.7% to Rs 631 crore in FY23, leading to the reported loss.
SourceEntrackr

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