PhysicsWallah Reports Impressive Revenue Growth in Q4 FY26

PhysicsWallah demonstrated remarkable performance in Q4 FY26, with revenue increasing by over 50% compared to the previous year. The company’s losses decreased by 76% to Rs 69 crore during this quarter. According to its consolidated financial statement from NSE, PhysicsWallah’s operating revenue rose to Rs 919 crore in Q4 FY26 from Rs 610 crore in the same quarter of FY25.

Revenue Composition

The financial filing did not provide a specific revenue breakdown, but PhysicsWallah primarily generates income through a variety of online and offline courses for competitive exams such as JEE, NEET, and state board exams, in addition to selling study materials. The company also accrued Rs 65 crore from interest income and gains on financial assets, resulting in a total revenue of Rs 984 crore in Q4 FY26.

Annual Performance Overview

For the financial year ending in March 2026, PhysicsWallah’s revenue surged by 35% year-on-year, reaching Rs 3,900 crore, up from Rs 2,887 crore in FY25.

Expense Insights

On the expenditure side, employee benefits were the largest cost component, comprising 47% of total expenses, amounting to Rs 487 crore in Q4 FY26, which saw a nearly 30% increase year-on-year. Depreciation and amortisation expenses were recorded at Rs 122 crore, while direct expenses rose slightly by 6% to Rs 144 crore during this quarter. Overall, the company’s expenses climbed over 7% year-on-year, reaching Rs 1,035 crore in Q4 FY26, compared to Rs 964 crore in Q4 FY25.

Losses Reduction

The strong revenue growth, combined with managed spending, allowed PhysicsWallah, headed by Alakh Pandey, to reduce its losses by 76% to Rs 69 crore in Q4 FY26, down from Rs 289 crore in the same quarter last year. It is noteworthy that the quarterly loss included a non-cash goodwill impairment expense of Rs 29 crore. For the entire financial year FY26, the firm’s losses diminished by 90% to Rs 24 crore from Rs 243 crore in FY25.

Strategic Investments and Expansion

PhysicsWallah has invested in FinZFinance to bolster its financial services division. Earlier this year, the firm extended its reach into the yoga and wellness sector by increasing its ownership in Kay Lifestyle and Wellness (Kamya Yoga & Wellness), diversifying its portfolio beyond the core test-preparation business following its debut in the stock market.

By the close of today’s trading session, the Noida-based company’s share price settled at Rs 112.1, bringing its total market capitalisation to Rs 32,381 crore ($3.4 billion).