Byju’s-owned online coding platform WhiteHat Junior has posted a massive loss of Rs 1,690 crore in the financial year 2021, while earning an operating revenue of Rs 484 crore in the same period.
The company’s balance sheet in its annual financial statements filed with the Registrar of Companies (ROC) shows that operating revenue in FY21 stood at Rs 483.9 crore, as against Rs 19 crore in FY20.
However, the platform’s losses skyrocketed in FY21 to Rs 2,175 crore as compared to Rs 69.7 crore in FY20.
The coding platform recorded a revenue of Rs 226 crore from the India market (46.7 per cent of its total sales globally) while the US market contributed 40.8 per cent to the revenue of Rs 197.2 crore.
The platform earned Rs 3.36 crore from the sale of course material and Rs 2.27 crore as other operating revenue during this period.
In August 2020, Byju’s acquired Mumbai-based live online coding provider WhiteHat Junior in a cash deal worth $300 million (approximately Rs 2,246 crore).
Karan Bajaj founded WhiteHat Junior in 2018 with a vision to make children creators of technology rather than passive consumers of it.
In August 2021, Bajaj decided to begin the next chapter of its life and Trupti Mukherjee, Head of Customer Experience and Delivery, was appointed to lead WhiteHat Jr.
WhiteHat Junior is not only a math and coding learning platform, but it has also forayed into 1:1 online music classes and brought a physical-digital blended coding curriculum to Indian schools aimed at teaching one million students. PLC
