Loss of ‘significant influence’ over Byju’s prompts accounting change by Prosus

Prosus, the Dutch-listed arm of South Africa-based conglomerate Naspers, said it stopped equity accounting of two of its portfolio firms, Byju’s and Udemy.

Prosus said in its investor presentation on Wednesday that from September 2022 it lost its “significant influence” over Byju’s with a less than 10% stake in the company.