Ed-tech startup Byju's saw revenues nearly triple to Rs 1,367 crore in the fiscal year 2019 from Rs 500 crore in FY18. Its consolidated losses also declined significantly to Rs 8 crore in FY19 from Rs 37 crore in FY18, as per filings sources from paper.vc.

However, Byju's said, on a standalone basis, it registered a net profit of Rs 20 crore in FY19. The consolidated losses were due the acquisition of US-based learning platform Osmo in January.

Byju’s is aiming to double its revenue to Rs 3,000 crore in the current financial year, according to a company statement.

Mrinal Mohit, chief operating officer, Byju’s, said, “We have exceeded our financial goals that we set at the beginning of the year. In the current financial year, we are on track to double our revenue to Rs 3,000 crore."

The startup will also launch Byju’s Online Tutoring in order to accelerate growth and profitability in the coming year, added Mohit.

Byju's claims it has over 40 million registered users and 2.8 million paid subscribers.