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PhysicsWallah Reports 70 Percent Jump in Q2 FY26 Profit with Strong User Growth
PhysicsWallah posted a sharp 70 percent year-on-year rise in net profit to ₹69.7 crore in Q2 FY26, supported by healthy revenue growth and improving margins. The edtech firm also reported strong expansion in its paid user base and offline centre network.
By Finblage Editorial Desk
10:50 pm
8 December 2025
PhysicsWallah recorded a strong financial performance in the second quarter of FY26, reporting a nearly 70 percent year-on-year increase in net profit to ₹69.7 crore, compared with ₹41.1 crore in the same period last year. However, the profit declined sequentially from ₹127 crore reported in Q1 FY26, according to regulatory filings.
In its first quarterly results after listing, the Noida-based edtech company posted revenue from operations of ₹1,051.2 crore, reflecting a 26 percent year-on-year rise from ₹832.2 crore in Q2 FY25. On a quarter-on-quarter basis, revenue declined from ₹1,847.1 crore recorded in the previous quarter.
Total expenses for the quarter rose 25 percent to ₹999.6 crore, compared to ₹800 crore a year ago. Expenses were lower than the ₹1,054.2 crore reported in Q1 FY26, indicating some moderation in cost growth.
PhysicsWallah said both its online and offline businesses contributed meaningfully to the overall performance. During the first half of FY26, the company’s total paid user base increased 29 percent year-on-year to 3.62 million. Online paid users grew to 3.22 million from 2.68 million a year earlier, while offline enrolments rose to 0.40 million from 0.31 million.
Offline expansion remained strong, with total centre count increasing to 314 in H1 FY26 from 186 a year earlier. This included 117 PW Vidyapeeth centres, 75 PW Pathshala centres, 53 other PW centres, and 69 subsidiary centres. The company also reported a faculty strength of 6,643 across employees and consultants.
Profitability improved further during the quarter, with adjusted EBITDA margins expanding to 26 percent in Q2 FY26 from 23 percent in the year-ago period, aided by operating leverage. Profit after tax margin also improved to 7 percent from 5 percent in Q2 FY25.
User engagement remained strong, with daily average users at 3.5 million and average engagement time of 103 minutes. PhysicsWallah’s social media community has now crossed 125 million subscribers across platforms.
The company highlighted strong growth opportunities beyond its core JEE and NEET segments, particularly in foundation courses, civil services, government exams, defence, GATE, commerce, MBA, CA and upskilling. It also identified state boards and vernacular education segments as key future growth drivers.
Recently, PhysicsWallah launched ‘Pi’, a low-ticket, distraction-free digital learning platform priced between ₹300 and ₹400, aimed at expanding monetisation among new learner segments.
On December 8, PhysicsWallah shares closed 1.95 percent higher at ₹138.55 on the BSE.
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