Prime Venture Partners-backed PlanetSpark is also one such startup that recorded more than an eight-fold jump in its operating revenue during the last fiscal year. Its operating revenue ballooned 8.3X to Rs 4.97 crore in FY21 from a mere Rs 60 lakh in FY20, the company’s annual financial statements show.
PlanetSpark’s revenue combinedly comes from the sale of services (coaching) and the sale of ebooks which recorded Rs 1.86 crore and Rs 3.11 crore respectively in FY21. The company also sells these services as a package which recorded an 8.3X jump in FY21 when compared to the last fiscal year.
The company has also reported advance revenue amounting to Rs 2.81 crore under other current liabilities. This happens when a company receives payment from a customer before the product or service has been delivered.