Byju’s, India’s most valued startup, said its revenue from operations for the financial year ended March 2021 has been readjusted to ₹2,280 crore even as it incurred massive losses of ₹4,588 crore, up from just ₹262 crore in FY20.
India’s most valued startup Byju’s readjusted its unaudited revenues for FY21 following two key changes sought by its official audit firm, Deloitte Haskins & Sells. One, the nature of revenue recognition was changed.
US and European importers of merchandise like bags, apparel and jewellery are asking their Indian suppliers to ship cheaper products, as the purchasing power of inflation-battered consumers in those markets has declined.
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