2 weeks ago
upGrad's Revenue Crosses ₹2,000 Cr, Net Loss Narrows 52%
upGrad is a big online school in India that helps people learn new skills and earn degrees.
In the past, it spent more money than it made, like a lemonade stand that loses money.
This year, it lost much less money than before — 52% less.
Its sales also went up, and it earned more than 2,000 crore rupees, which is a huge amount of money.
The company cut costs by using artificial intelligence, a super-smart computer helper.
AI is now used in more than 80% of its programs.
upGrad also bought most of Internshala, a website that helps students find internships.
It also plans to buy Unacademy, another online learning company.
The company's leader, Ronnie Screwvala, says upGrad will keep growing in India and in other countries.
So upGrad is becoming healthier and bigger each year.
upGrad's net loss narrowed 52% to ₹130 Cr in FY26 from ₹274 Cr in FY25, marking its third consecutive year of halving losses.
Gross revenue rose 7% YoY to ₹2,070 Cr, while Ind AS EBITDA jumped over eightfold to ₹123 Cr from ₹15 Cr.
The startup holds ₹530 Cr in collected revenue yet to be recognised in future years.
AI has been integrated into more than 80% of upGrad's programmes, cutting marketing and technology costs even as revenue grew.
upGrad acquired a 90% stake in Internshala and signed a term sheet to acquire a majority stake in Unacademy, valued at around ₹2,055 Cr.
- Who
- upGrad, the Ronnie Screwvala-led edtech company, and its CFO Mukesh Mundra.
- What
- upGrad reported FY26 results with gross revenue crossing ₹2,000 Cr and net loss narrowing 52% to ₹130 Cr, alongside acquisitions of Internshala and Unacademy.
- Where
- India, with upGrad operating online skilling, study abroad, and offline skilling businesses.
- When
- The financial year ended March 2026 (FY26), with the Unacademy term sheet signed in March.
- Why
- Sustained cost rationalisation and AI-led efficiencies reduced costs even as revenue increased.
Key facts
- Gross Revenue (FY26)
- ₹2,070 Cr, up 7% from ₹1,943 Cr in FY25
- Net Loss (FY26)
- ₹130 Cr, down 52% from ₹274 Cr in FY25
- Ind AS EBITDA
- ₹123 Cr, up from ₹15 Cr in FY25
- Unrecognised Revenue
- ₹530 Cr collected, to be recognised in future years
- AI Integration
- Integrated into more than 80% of programmes
- Concurrent Learners
- More than 1 Lakh
- Enterprise Clients
- 700+ companies via upGrad Enterprise
- Unacademy Deal
- Majority stake via all-stock term sheet, valued around ₹2,055 Cr
Quotes
Ronnie Screwvala
Founder and chairman of upGrad
“the startup would focus on organic and inorganic growth over the next few years across India and international markets.”
inc42.com
“FY26 has been a strong year on profitability, built on disciplined execution and right cost management.”
inc42.com
Sources
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