Edtech Platform Adda247 Sees 88% Revenue Increase, 66% Loss Reduction in FY24

Adda247 is India’s largest vernacular test preparation platform, serving over 50 million students from Tier II and Tier III cities in India. The platform offers online courses for various major exams in more than 10 regional languages, providing a comprehensive learning experience that encompasses PDFs, videos, practice problems, and current affairs. It caters to a wide range of exam preparation, including those in the domains of banking, SSC, railways, teaching, defence, engineering, and UPSC. Adda247’s learning content covers government exams, JEE/NEET entrance exams, engineering exams, and school/K12 education based on NCERT curriculum. The company was established in 2016 and has since expanded its offerings to include various platforms such as mobile apps, YouTube channels, and websites, including bankersadda.com, sscadda.com, teachersadda.com, Career Power, and Sankalp Bharat.

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Edtech platform Adda247 has announced impressive financial results for fiscal year 2024, with an 88% year-on-year revenue increase, rising to Rs 243.39 crore from Rs 129.65 crore the previous year. Additionally, the company successfully reduced its net loss by 66%, bringing it down to Rs 101 crore from Rs 296 crore in FY23. This growth is attributed to the company’s strong verticals in government job exams, UPSC, and the new K13 segments (CUET, NEET, JEE), which collectively contributed about 15% to the total revenue.

Adda247’s financial success can be attributed to its extensive array of online preparation courses for over 500 exams, such as CUET, IIT JEE, NEET, UPSC, and various government job tests in banking, SSC, teaching, and defense sectors. The company’s revenue primarily stems from its app-based services, which feature paid video courses, live classes, and educational books. Additionally, its foray into skilling, up-skilling, and higher education has significantly contributed to its growth. The recent appointment of Bimaljeet Singh Bhasin as CEO for these new segments signifies a strategic effort towards sustained development.

Adda247 has experienced significant growth in its user base, now totaling 40 million active users. This growth can be attributed to targeted vernacular strategies implemented in key regions and languages, particularly in the Hindi belt and southern and eastern states, including Marathi, Punjabi, and Gujarati. In the fiscal year 2024, the company’s paid subscribers increased by over 60%, with the majority of this growth being organic. Unlike its competitors, Adda247 has maintained low marketing expenses, accounting for just around 4% of its revenue.

Anil Nagar, the company’s founder and CEO, underscored the strategic progress achieved in FY24, stressing the company’s dedication to innovation and a user-centric philosophy.

“Sustainable growth remains our primary objective, and we are particularly excited about our latest ventures into the skilling and higher education sectors,” Nagar remarked. This strategic emphasis on sustainable growth is anticipated to sustain the company’s success in the future.

Established in 2016 by Anil Nagar and Saurabh Bansal, Adda247 is dedicated to providing affordable education to more than 500 million learners in Bharat, tier-3 & 4 cities, and rural India. The company is supported by prominent investors such as Google, JM Financial, Asha Impact, WestBridge Capital, and Info Edge.

Edtech platform Adda247 has achieved remarkable financial success in FY2024, with an 88% year-on-year revenue increase and a 66% reduction in net loss. The company’s strong performance across government exam, UPSC, and K13 segments, coupled with its comprehensive exam preparation offerings and targeted vernacular strategies, have driven this growth. Adda247 has expanded its user base to 40 million active users and seen a 60% increase in paid subscribers, while maintaining low marketing expenses. The company’s commitment to innovation and user-centricity, as well as its strategic leadership appointments and prominent investor backing, position it for sustained success.