BYJU’s has extended its timeline to become profitable at a group level to fiscal year 2024, from its previous target of March 2023, as India’s most valuable edtech firm continues to crack under mounting losses.
In its earnings published in Oct, BYJU’s had said its top priority was to achieve overall profitability by March 2023 at a group level. However, despite taking steps to cut costs including laying off 2,500 employees in Oct. and 1,200 layoffs last week, BYJU’s will not be able to meet its previously forecast profitability timeline.