Edtech firm Jaro Education takes a quantum leap in revenue and profitability in FY 2021-22
May 18, 2022
Mumbai (Maharashtra) [India], May 18 (ANI/BusinessWire India): Jaro Education, a leading Edtech firm imparting the best online and blended learning executive education programmes for working professionals, has successfully closed FY 21-22 with almost 710 per cent year-on-year jump in its profit and 125 per cent in revenue. The profit for FY 21-22 was registered at INR 34.29 CR as compared to INR 4.23 CR for FY 2020-21. Revenue for FY 2021-22 was closed at INR 104.32 CR, which was INR 46.37 CR in FY 2020-21.
The financial year that ended in March 2022 was remarkable for the corporation since it achieved significant milestones in establishing multiple domestic as well as international partnerships with top-notch universities and institutes. The company registered a growth of 125 per cent in its top line and a 368 per cent growth in EBITDA. Jaro also enrolled more than 20,000 students in FY 2021-22.
Jaro Education's CEO, Ranjita Raman said, "Our strategy of diversifying our service offering and expanding industry alliances resulted in a huge rise in the revenue, confirming our goal of capitalizing on rising demand by catering to the diverse needs of our top National and International learners."
"The Edtech Company was started in 2009 and has been profitable and self-funded since inception. According to the company's financial report for FY 2020-21 (audited), the company registered an EBITDA of INR 8.11 crores, which has now been increased to INR 37.95 crores in FY 2021-22 (provisional), with a jump of approximate 368 per cent. By the end of FY 22-23, the company is projected to increase its revenue to 300 crores, jump by almost 200 per cent. The company recently announced the Second Grant of the ESOP scheme to the team members. During the First Grant of the ESOP scheme, the Company had issued shares to its key employees in 2018 at a rate of INR 50/- per share and in the month of December 2021, Dr Salunkhe, the Founder, offered to buy back those shares at INR 250/- per share by providing 400 per cent return on their investment within a span of 3 years."
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