UpGrad expects Revenue to touch Rs 1,900 crore

UpGrad, which is an upskilling and higher learning Edtech platform is anticipating to end its current financial year (FY22) with a consolidated revenue of Rs. 1900. The company’s chairperson and co-founder Ronnie Screwvala informed that the company has hit overall profitability in the current quarter. According to UpGrad’s regulatory filing, the company had reported consolidated revenue of Rs 302.26 crore, in FY21 and a net loss of Rs 211 crore. In the fourth quarter of the current FY22, UpGrad expects to reduce its loss to about Rs 150 crore in FY22. In the current financial year, the company has acquired Impartus Innovations, KnowledgeHut, Talentedge, Work Better Training as well as Global Study Partners. Mr. Screwvala said: “Profitability is an absolute focus area. On a consolidated business, we have enough scale now to keep our profitability going. And that is on account of our diversification of courses (from undergrad to doctorate) as well as the high margins that we make. In addition, the completion track record for our courses is 85%, and that leads to referrals (to get more students into the ecosystem).”