Classplus Doubles Revenue to Rs 260 Cr, Reduces Losses by 57% in FY24

• Edtech firm Classplus has seen its revenue grow eight-fold over the past two fiscal years, reaching Rs 213 crore in FY24, up from Rs 26 crore in FY22.
• The company's revenue from operations surged 2X to Rs 213 crore in FY24 from Rs 102 crore in FY23.
• The sale of SaaS tools and software accounted for 96.6% of its total operating revenue, which doubled to Rs 205.5 crore in FY24.
• The company earned Rs 52 crore, primarily from interest on fixed deposits, bringing its total income to Rs 264 crore in the fiscal year ending March 2024.
• The two-fold growth and controlled expenditures helped Classplus reduce its losses by 57%, bringing them down to Rs 110.4 crore in FY24 from Rs 256 crore in FY23.

Source: Entrackr