PhysicsWallah Reports 26% Revenue Growth in Q2 FY26

PhysicsWallah Limited has released its unaudited financial results for the quarter and half-year ended September 30, 2025. The company reported a 26% year-over-year increase in revenue from operations, amounting to ₹10,512 Mn for the quarter. The profit after tax (PAT) for the quarter reached ₹697 Mn, reflecting a 70% increase compared to the same period last year.

For the first half of FY26, PhysicsWallah’s revenue from operations totaled ₹18,983 Mn, marking a 29% YoY growth. The company’s adjusted EBITDA for the quarter was ₹2,697 Mn, with a margin of 26%. The free cash flow for H1 FY26 was reported at ₹6,441 Mn, compared to ₹5,434 Mn in H1 FY25. As of September 30, 2025, the company’s treasury stood at ₹25,519 Mn, excluding IPO proceeds.

PhysicsWallah’s operational highlights include a significant increase in both online and offline enrollments. The company reported 3.22 Mn unique transacting users in its online channel, a 20% increase from the previous year. Offline student enrollments reached 0.40 Mn, up 26% YoY. The company expanded its offline presence by adding 128 new centers, bringing the total to 314 centers across various categories. The number of faculties, including employees and consultants, was reported at 6,643.

The company continues to focus on expanding its offerings in new exam categories such as Civil Services, Government Exams, and Defence, among others. PhysicsWallah is also working on increasing its penetration in mass-market segments like State Boards and vernacular-language categories. The company has launched a new initiative, Pi, aimed at the low-ticket segment, providing a distraction-free, student-centric learning experience.

PhysicsWallah’s financial results reflect its strategic focus on expanding both its online and offline educational platforms. The company’s recent listing on the National Stock Exchange of India Limited and BSE Limited further underscores its commitment to transparency and long-term value creation for its stakeholders.

About PhysicsWallah Limited: Founded in 2020, PhysicsWallah is an education platform that aims to democratize education through online, offline, and hybrid platforms. Initially launched as a YouTube channel, the company now offers a wide range of educational services, including test preparation and higher education programs. PhysicsWallah is committed to making education affordable and accessible across India.