UPSKILLING PLATFORM SIMPLILEARN reduced its net losses by 56% to ₹106.7 crore in FY24 from ₹244.2 crore in FY23. Revenue from operations grew 9.6% to ₹749.77 crore in FY24, from ₹683.98 crore in FY23, according to financial statements filed with RoC.The revenue growth came primarily from online self-learning programs, which surged 7.8 times to ₹451.45 crore. Live virtual classes saw a decline of around 52% to ₹341.5 crore. The company offered ₹43.17 crore in discounts. Additional interest income of ₹23 crore pushed total income to ₹773 crore.Total expenses decreased by around 7% to ₹879.50 crore in FY24, from ₹944.4 crore in FY23. The firm reduced its advertising expenses by around 32% to ₹204.79 crore in FY24 from ₹301.52 crore in FY23. Tutor fees also declined 13% to ₹183 crore from ₹211 crore, during the same period. Employee costs increased 12% to ₹325.17 crore from ₹288.62 crore. Depreciation expenses nearly doubled to ₹69.63 crore, with other expenses at ₹96.91 crore, at the end of FY24.The company's ROCE and Ebitda margin stood at -42.45% and -3.75%, respectively, at the end of FY24. The company, which is eyeing an IPO by end of FY26, had previously claimed that it has achieved quarterly profitability in Q4FY24 and that it expects full-year profitability in FY25.

Simplilearn cuts losses by 56% to ₹107 cr in FY24

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