upGrad's Surging Growth: AI and Enterprise Skilling Lead the Way

upGrad recorded a remarkable growth in FY'24 with a gross revenue of INR 1876 Cr. Boosted by a 50% increase in learner enrollments and strong traction in AI courses, it remains a leader in skilling. The company sees continued expansion and profitability in its integrated learning model.

In an impressive fiscal year 2024, upGrad, Asia's prominent skilling major, posted a gross revenue of INR 1876 Cr. After Ind-AS adjustments, the total income stood at INR 1547 Cr, with merits being carried into future years with unrecognized advances of INR 507 Cr.

The company significantly reduced its EBITDA loss to INR 285 Cr, a 50% improvement from the prior year, while its negative PAT was cut in half to INR 560 Cr. Revenue growth was achieved without major hikes in operational costs, aligning with a strategic investment in technology and product development.

AI courses emerged as a major growth driver, contributing to 20% of total revenue. upGrad's enterprise clientele grew by 50%, attracting global partners, while its skilling programs facilitated over 55,000 career transitions. Co-founder Mayank Kumar emphasized their ongoing international expansion and aim for profitability in FY25.

(With inputs from agencies.)