New Delhi, Dec 20 || Edtech unicorn Vedantu has registered a loss of Rs 157 crore in FY24 compared to Rs 373 crore loss in FY23.
Vedantu's total expenditure in FY24 declined by 33.5 per cent year-on-year to Rs 368 crore from Rs 553 crore in FY23, as per its financials.
The biggest part of the company's cost was employee benefits. Their share of the total expenditure was 47 per cent in the last financial year. In FY24, it declined by 43.8 per cent to Rs 176 crore, due to layoffs by the company.
Meanwhile, Vedantu's advertising expenditure dropped by 70 per cent from Rs 76 crore in FY23 to Rs 23 crore in FY24.
Apart from this, other expenses of the company included outsourcing of teachers, internships, purchase of books, legal expenses and others.
Vedantu's total income from operations in FY24 surged by about 20 per cent year-on-year to Rs 185 crore as against Rs 153 crore in FY23.