Google-backed Adda247’s revenue doubles, losses grow fourfolds in FY23

Google-backed vernacular test prep platform Adda247’s revenue doubled, while its losses grew close to fourfolds for the fiscal year 2022-23, on the back of growing expenses as the company invested in its UPSC and vernacular segments. The edtech company reported a net loss of Rs 109.72 crore in FY23, about 3.8 times higher than Rs 28.33 crore in FY22, according to its financial statement sourced by Moneycontrol.