PhysicsWallah Q2 net profit more than doubles to nearly ₹144 crore as revenue rises 18%
Edtech company PhysicsWallah reported more than a twofold increase in consolidated net profit for the September quarter, supported by higher enrolments and growth across its online and offline education businesses.
The company posted a net profit of ₹143.63 crore for the second quarter of FY27, compared with ₹70 crore in the corresponding quarter last year, marking a sharp improvement in its financial performance.
Consolidated revenue from operations rose 18.2% year on year to ₹1,242.26 crore in the quarter ended 30 September 2026, against ₹1,051.24 crore a year earlier, PhysicsWallah (PW) said in a statement.
"We delivered record revenue and a sharp improvement in profitability, while our learner base kept widening across K-12, vernacular and new categories. Our focus remains on scaling affordable, tech-led education with disciplined capital allocation," founder and chief executive Alakh Pandey said.
PhysicsWallah's online business continued to lead growth during the quarter. Revenue from its online segment increased 26.4% year on year to ₹694 crore.
The offline business, which includes classroom-based coaching, recorded revenue growth of 9% to ₹541 crore.
The company also reported an increase of more than 30% in NEET enrolments during the September quarter. The growth came as demand that had been pushed back following the postponement of the NEET-UG examination materialised.
The performance reflects the contribution of both digital learning and physical coaching centres to the company's expanding education business.
Alongside its revenue growth, PhysicsWallah is taking a more measured approach to expanding its offline network.
The company opened 56 centres in the first half of FY27, compared with 128 in the corresponding period last year. The slower pace also marks a shift from the expansion plans outlined during its initial public offering (IPO).
PW said it was prioritising academic standards and improving the financial performance of existing centres rather than rapidly increasing its physical footprint.
"This slower growth is intentional. We are taking a calibrated approach to new centres, which are smaller than before, while we focus on academic excellence and on improving the economics of existing centres under our hyper-local strategy," the company said.
PhysicsWallah plans to open between 25 and 30 centres annually over the next two years.
In the June quarter, PhysicsWallah reported a consolidated net loss of ₹77.57 crore, down from ₹120.45 crore in the year-ago period. Revenue from operations increased 24.4% year on year to ₹1,053.95 crore, compared with ₹847.09 crore in Q1 FY26, supported by growth across its online and offline education businesses.
PhysicsWallah is also looking to strengthen its presence in southern India, with Pandey announcing plans in September to spend the next two years in the region to oversee expansion.
The focus will cover Andhra Pradesh, Telangana, Tamil Nadu, Karnataka and Kerala.
As part of this strategy, PhysicsWallah has entered into a five-year partnership with Mohan Babu University in Tirupati. Under the agreement, the edtech company will offer online courses in artificial intelligence, skill development and career-focused subjects to nearly 18,000 students.
Pandey said he would dedicate the next 24 months to expanding the company's reach and bringing its education offerings to more students across the region.
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