Edtech company Unacademy has appointed Pratik Dalal as the Chief Financial Officer of its offline centres business, according to an internal message sent by Co-founder and CEO Gaurav Munjal to employees.
Dalal is a seasoned finance professional with more than 20 years of experience in leadership positions spanning multinational corporations and startups.
Before joining the edtech unicorn, Dalal headed Business Finance at CRED. Before that, he was the VP of Business Finance at Flipkart.
“Pratik’s diverse experience across corporate banking, fintech and consumer internet along with his consistent ability to deliver financial success for businesses will play a pivotal role as we work towards sustained growth and profitability,” Munjal said, as per a screenshot of the message seen by YourStory.
YourStory has reached out to Unacademy for comments.
Dalal’s appointment comes at a time when the edtech unicorn has witnessed a jump in revenue through sharp growth in its offline business. However, the revenue from the online test preparation segment—its core business—has dropped.
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The Bengaluru-based firm reported a consolidated loss of Rs 1,678.1 crore in FY23, a fall of 41.1% from Rs 2,847.9 crore recorded in the earlier fiscal period. Meanwhile, its operating revenue surged 26.1%, touching Rs 907 crore in FY23 compared to Rs 719.2 crore in FY22, as per its recent consolidated financial statements.
In December, Munjal claimed that the edtech firm has reduced its cash burn by 60% and has a runway of over four years with its current cash reserves. He also highlighted that the company achieved positive cash flow during the April-June quarter of the current fiscal year.
Unacademy has witnessed a series of top-level departures including Arnab Dutta, who was Senior Vice President at Unacademy until June. Dutta assumed the role of Chief Operating Officer at Vedantu in September. Last year, Unacademy Chief Financial Officer Subramanian Ramachandran also departed.
Founded by Munjal, Roman Saini, and Hemesh Singh in 2015, Unacademy claims to have a network of over 91,000 registered educators and more than 99 million learners, offering education in over 14 Indian languages across 10,000 cities.
Edited by Affirunisa Kankudti
