Results · Education & Skilling

upGrad reports FY26 results, loss halves again

By Startup Enthusiast · 18 August 2026

What they do

UpGrad is an online platform offering courses from IITs, IIMs and global universities

In FY26, gross revenue was Rs 2,070 crore, net loss narrowed 52% to Rs 130 crore

The company is closing acquisitions of Unacademy and Internshala

upGrad reported FY26 financial results with gross revenue of Rs 2,070 crore, up 7% year-on-year.
Total income under Ind-AS was Rs 1,732 crore.
Collected revenue yet to be recognised stood at Rs 530 crore.
Ind-AS EBITDA was Rs 123 crore, an 8x jump from Rs 15 crore in FY25.
Net loss narrowed 52% to Rs 130 crore, marking the third consecutive year losses halved from Rs 1,142 crore in FY23.
The platform had over 100,000 concurrent learners across online skilling, degree, study abroad and offline skilling.
upGrad Enterprise served over 700 enterprises for employee skilling and recruitment.
Over 80% of programmes now include AI in the curriculum.

Marketing and technology costs declined year-on-year despite revenue growth, aided by AI in operations.
The acquisition of Unacademy (all-stock deal valued at around Rs 1,955 crore) and Internshala is closing within three weeks.
The acquisition aims to combine upGrad's higher education and skilling with Unacademy's test prep, medical education and creator-led learning.
Focus is on growth across India and global markets.

upGrad is an online upskilling platform offering courses from partner institutions like IITs, IIMs, IIIT Bangalore, MICA, ISM Germany, O.P. Jindal, ESGCI Paris, Touro University, Northeastern University and Microsoft.
Course categories include AI, data science, machine learning, cybersecurity, management, marketing, study abroad and free courses.
It serves over 700 enterprises through upGrad Enterprise for employee skilling, recruitment and workforce development.
The platform had over 100,000 concurrent learners in FY26 across multiple verticals.

The acquisition of Unacademy and Internshala is expected to close within three weeks.
The company aims to combine higher education and skilling with test prep and creator-led learning.
Focus on growth across India and global markets.