PhysicsWallah’s Q4FY26 loss narrowed sharply to ₹74.9 crore as revenue rose over 50% year-on-year.
The company reported strong growth in both online and offline businesses, with its centre network expanding to 353 locations.
PhysicsWallah said it is adopting an AI-first approach across teaching, counselling, operations, and product development.
PhysicsWallah Slashes FY26 Losses as Revenue Jumps 51%, Bets Big on AI and Offline Expansion
Ed-tech firm reports strong revenue growth, improving margins, and rapid expansion in offline centres while doubling down on AI-led operations
PhysicsWallah
Summary
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PhysicsWallah Ltd reported a sharp decline in losses for the fourth quarter of FY26, supported by strong revenue growth and improving operational performance across both its online and offline businesses.
The ed-tech company said better operating leverage, tighter cost discipline, and AI-led automation helped improve profitability during the quarter and the full financial year.
For the January–March quarter, PhysicsWallah posted a consolidated net loss of ₹74.9 crore, significantly lower than the ₹293.1 crore loss reported in the same period last year. Revenue from operations rose 50.7% year-on-year to ₹918.8 crore from ₹609.6 crore.
The company also reported a turnaround at the operating level. EBITDA stood at ₹28.8 crore in Q4FY26, compared to an EBITDA loss of ₹228.5 crore a year earlier.
EBITDA margin improved to 3.1% from a negative 37.5% in the corresponding quarter last year.
For the full year FY26, PhysicsWallah’s revenue increased 35% to ₹3,900 crore from ₹2,887 crore in FY25.
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EBITDA more than doubled to ₹549 crore from ₹193 crore in the previous year, while EBITDA margin expanded to 14.1% from 6.7%. The annual net loss narrowed sharply to ₹24 crore from ₹243 crore in FY25.
The company’s paid user base rose 20% year-on-year to 5.34 million during FY26. Online paid users increased to 4.87 million, while offline enrolments reached 0.47 million.
PhysicsWallah also continued expanding its offline presence, with its centre network growing to 353 centres across India and the UAE, compared to 198 centres a year ago. Offline revenue rose 31% year-on-year to ₹1,774 crore, while online revenue grew 39% to ₹1,954 crore.
Co-Founders Alakh Pandey and Prateek Maheshwari said the company is steadily moving towards an AI-first model across areas such as teaching, counselling, operations, and product development.
Separately, PhysicsWallah said its audit committee approved an investment of around ₹120 crore in its wholly owned subsidiary, FinZ Finance, through a rights issue. The company said FinZ primarily provides short-term education loans, largely to students already enrolled on the PhysicsWallah platform.
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Shares of the company closed flat at ₹111.95 on Wednesday on the BSE.