upGrad, an Indian online learning and job training company, has turned a profit in fiscal year 2025. This is big news for them and for other online education companies in India that sell directly to students. Right now, people are really watching to see which companies are using money wisely and making actual profits. upGrad’s success suggests that there’s still a lot of potential in education models that focus on the consumer first.
The company’s gross income for fiscal year 2025 was about ₹1,943 crore, but when you make some accounting adjustments, the total income comes out to ₹1,650 crore. They also have ₹556 crore that they’ve already collected but haven’t counted as income yet. This means they’re still getting lots of students, and should be getting more money later on. Their earnings before interest, taxes, depreciation, and amortization (EBITDA) is at About ₹15 crore. This is a huge change from last year, when they lost ₹285 crore. They cut costs, got better at running their programs, and their consumer-focused business is doing better. Not counting some one-time expenses, their EBITDA was closer to ₹38 crore, which shows that the business is basically pretty strong.
Their losses went down by 51%, which suggests that they’re moving toward growth that can last for a while. Lots of venture capital-backed brands and online businesses are trying to do the same thing. upGrad is being careful with its investments in growth, technology, and in-person learning centers while focusing on popular career fields like AI, tech, and global education.
As they grow their consumer business, upGrad has created AI powered learning tools, built hybrid infrastructure with walk-in Experience Centers, and expanded outside of India. The company said that student sign-ups went up 19%, mostly because people want to learn AI and tech skills. That matches what’s been happening with consumers in India in general. Now, upGrad operates in Vietnam, Southeast Asia, the Middle East, the US, and Europe. About 20–25% of their income comes from these international operations. That puts them in the same category as other Indian online businesses that are growing around the world.
Their business division is also doing well, with 80% of its income coming from repeat customers in industries like banking, finance, services, IT, energy, and cars. The demand from businesses wanting AI training for their employees has doubled in the past year, proof that businesses are looking to use more technology.
Ronnie Screwvala, the co-founder, said it’s important that upGrad is making a profit while also expanding its AI learning options. He expects the company to grow by 30% each year for the next few years. upGrad has raised over $320 million so far, with Temasek owning 20.5% and the Screwvala family owning 45%. This makes upGrad one of the most financially stable education-tech companies in India.
