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FIITJEE posts Rs 542 Cr revenue in FY23, slips into losses

Entrackr · 1y

Delhi-based offline IIT-JEE test preparation platform, FIITJEE, witnessed a 21% growth in scale during the fiscal year ending March 2023. However, the growth came at a cost as the company reported a loss of Rs 69 crore as compared to a profit of Rs 37 lakh in FY22. FIITJEE's revenue from operations increased to Rs 542 crore in FY23 from Rs 448 crore in FY22. The company's expenses, especially in advertising and employee benefits, contributed to the overall loss. The test preparation market is experiencing significant competition and potential disruptions.