BYJU’s says will file financial results for last 2 years this month

New Delhi: After reports surfaced that edtech giant BYJU’s, last valued at $22 billion, is yet to file its financial statements for FY21 and FY22, the company said on Wednesday that it has completed the consolidation of businesses and will be filing its financial results this month.
The edtech unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year.
According to a report in The Ken, BYJU’s auditor Deloitte hasn’t yet signed off on its 2021 financials and “its reticence comes from the lending and accounting decisions that Byju’s has made”.
A BYJU’S spokesperson told IANS that multiple acquisitions were made in FY21 and each of these acquisitions had a different accounting style and year.
“We have completed the consolidation of businesses and will be filing our financial results this month. We would also like to highlight that securitisation and First Loss Deposit Guarantee (FLDG) are accepted industry practices,” the spokesperson said.
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