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In a much-awaited disclosure, edtech firm BYJU’S on Saturday reported that its core business, excluding all acquisitions, witnessed 2.3x year-on-year growth in total income, as part of its audited financial results for the fiscal year 2021-22 (FY22).

The Bengaluru-based company’s total income from its core business reached Rs 3,569 crore in FY22 from Rs 1,552 crore recorded in the preceding fiscal year. Moreover, the EBITDA loss for the core business decreased to Rs 2,253 crore in FY22, down 6% from Rs 2,406 crore in the previous financial year, as per a company statement.

The edtech firm’s EBITDA margin improved to -63% in FY22 compared to -155% in FY21. EBITDA (earnings before interest, taxes, depreciation and amortisation) is a measure of core operational efficiency. The company did not divulge the net loss from its core business.

“I am also humbled by the lessons learnt in the post-pandemic world of readjustments. BYJU’S will continue on the path of sustainable and profitable growth in the coming years,” Byju Raveendran, Founder and Group CEO of BYJU’S, said in a statement.

The edtech firm did not disclose its consolidated revenue and profit/loss numbers for FY22—a period in which it made nine acquisitions.