ED raids BYJU’s under FEMA, yet to submit financial results since FY21

As the Enforcement Directorate (ED) conducted searches under FEMA at three premises related to BYJU’s, the ed-tech major is yet to submit its financial statements since the 2020-21 fiscal.

Think & Learn Pvt Ltd, BYJU’s parent company, is yet to disclose the audited financial accounts for the last two fiscal years.

BYJU’s was also not able to meet its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year, amid delayed results.

The company, which has sacked thousands of employees to date and has taken deeper cuts, was still unable to achieve profitability at group level amid mounting losses.