Aakash Institute crosses Rs 1,400 Cr revenue in FY22; profit jumps 82%

Byju's has been in the news for all the wrong reasons: the company fell short on funds, defaulted on salaries, provident funds, vendor payments, delayed FY22 and FY23 audited results, and much more.
But there might be a silver lining for the Bengaluru-based firm. The company's major bet Aakash Institute--which could potentially save it from its maze of perils via an IPO--continued strongly, posting a solid growth with over 82% rise in profits during FY22.
Aakash's revenue from operations grew 44.56% to Rs 1,421 crore in FY22 from Rs 983 crore in FY21, its standalone financial statement sourced from the Registrar of Companies shows.
For the record, Aakash reported Rs 1,214 crore in operating revenue in FY20 which dropped to Rs 983 crore in FY21.
Aakash Institute offers NEET, IIT-JEE, Olympiad NTSE, classroom courses along with distance courses for engineering and medical aspirants. Fees received from students to provide coaching services accounted for 87.8% of the firm's total revenue which increased 48.4% to Rs 1,282 crore in FY22.