PhysicsWallah, the Indian edtech company, reported a consolidated net profit of Rs 143.6 crore in the quarter ending September 2026, a significant turnaround from a loss in the prior quarter and an 18% year-on-year revenue increase.
- Profit jumps to Rs 143.6 crore in Q2 FY27 from Rs 69.7 crore year-on-year
- Revenue grows 18% driven by online and offline education divisions
- South India expansion and Utkarsh Classes acquisition underway
What happened
PhysicsWallah posted a net profit of Rs 143.6 crore in Q2 FY27, more than doubling its profit compared to Rs 69.7 crore in the same quarter last year. This reversed the loss of Rs 88.3 crore reported in the preceding quarter. The company’s revenue from operations increased 18% year-on-year to Rs 1,242.3 crore, supported by growth in both online and offline business segments. Other income contributed an additional Rs 92.4 crore, pushing total revenue to Rs 1,334.6 crore.
The online education vertical experienced a 26% jump in revenue to Rs 693.5 crore, while offline revenue rose 9% to Rs 540.9 crore. The company highlighted a 30% surge in NEET enrollments as the exam’s postponement-related deferred demand was realized in the quarter. Expansion efforts in Southern India showed strong traction with a 32% increase in regional learners using the PW app, complemented by a 14% increase in paid learners in the market.
Why it matters
PhysicsWallah’s performance underscores the resilience and scalability of its omnichannel model combining online platforms, such as PW and YouTube, with offline centers across India. The turnaround from a prior quarter loss to a robust profit signals effective cost controls and growing market demand for affordable, tech-led education solutions. The growth in key segments including vernacular content and K-12 learners broadens the company’s addressable market.
South India’s emergence as a strategic growth region is notable, where the company currently operates 63 centers and is expanding its regional language offerings to tap into a 15 million student market. This regional focus aligns with broader trends in the Indian edtech sector towards localized, language-specific content and hybrid delivery models.
What to watch next
PhysicsWallah’s board has approved increasing its stake in Utkarsh Classes from 75.5% to 87.75%, with plans to acquire full ownership by FY28. This acquisition is set to strengthen its core coaching business and broaden its service offerings. Monitoring how Utkarsh Classes integrates and contributes to overall financials will be key going forward.
Investors and market watchers should also track the company’s ability to sustain revenue growth while managing expense increases, which rose by 11% year-on-year in Q2 but declined sequentially. Growth in new learner categories and regions, including continued expansion in South India, will be critical metrics reflecting the company’s long-term scaling potential and competitive positioning in India’s crowded edtech landscape.