Edtech major Byju’s will file its financial results for the year ended March 31, 2022, by the end of this week, a delay of more than a year.

"The audit of all the group subsidiaries has been completed and adopted. Think and Learn Private Ltd, the parent, is expected to adopt the consolidated results this week to factor in certain positive developments in the company,’’ a spokesperson for the company said.

Late last month, the start-up said it would convene a board meeting in the second week of October to approve and adopt financial results for the fiscal year 2021-22.

In June, Deloitte had resigned as auditors of the company citing a delay in the submission of financial statements.

After its resignation, Byju’s had committed itself to its investors to close the long-pending audit of 2021-22 by September and of 2022-23 by December.

In 2020-21, the company saw its consolidated revenues fall to Rs 2,428 crore from Rs 2,511 crore in the preceding year while its losses stood at nearly Rs 4,590 crore against a loss of Rs 230 crore in 2019-20.

For the fiscal ending March 31, 2022, the company had earlier announced that its revenues had increased four-fold to Rs 10,000 crore. However, it did not disclose the profit or loss numbers for that year.

The announcement of the results comes at a time the company expects to reportedly turn profitable by March 2024 amid consolidation and restructuring in the organisation and the settlement of a $1.2 billion loan.

It had earlier set a target to become profitable by March 2023.

Byju’s has also been looking to sell its two major assets — Epic and Great Learning to repay the $1.2 billion term loan B (TLB).

It had communicated to the TLB lenders that it intends to fully repay the amount in six months, of which $300 million will reportedly be paid in the next three months.

In November 2021, Byju’s mobilised TLB from a group of overseas investors. This loan permits flexible repayment of dues to creditors. It is a type of senior secured syndicated credit facility that is issued by global institutional investors.

The proceeds from TLB are generally used to either refinance an existing debt or to make overseas acquisitions.

There is also a buzz that Byju’s is looking to raise at least $800 million from the sale of Epic, the US-based kids learning firm and Great Learning — the upskilling platform apart from mobilising fresh capital from equity sales.

The company acquired Great Learning in 2021 for $600 million in a cash, stock and earnout deal. A year later it purchased Epic the US-based kid’s learning platform for $500 million in a cash and stock deal.