PhysicsWallah Cuts FY26 Losses To ₹24 Crore Amid Revenue Growth

PhysicsWallah reported a steep decline in consolidated loss for Q4 FY26 on the back of robust growth across online and offline businesses and better operating performance.

The company posted a consolidated net loss of ₹74.9 crore attributable to owners of the parent in Q4 FY26 compared to loss of ₹293.1 crore in the corresponding quarter of last year, down by almost 74.4 percent.

The company’s revenue from operations for the quarter was up 50.7 per cent on year to ₹918.8 crore from ₹609.6 crore a year ago.

The company’s total income for the quarter grew to ₹983.6 crore, versus ₹666.8 crore in Q4 FY25.

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Profitability Improves Sharply:

The company reported an EBITDA of ₹28.8 crore in the quarter compared to an EBITDA loss of ₹228.5 crore in the year-ago period. EBITDA margin improved to 3.1% from (37.5)%.

Consolidated revenue from operations for the full financial year FY26 was up 35.1 percent at ₹3,899.5 crore against ₹2,886.6 crore in FY25.

Annual consolidated net loss decreased sharply to ₹24.2 crore from ₹243.3 crore in the earlier fiscal.

The company’s EBITDA stood at ₹549 crore for FY26, compared to ₹193 crore last year while the EBITDA margin stood at 14.1 per cent against 6.7 percent.

PhysicsWallah also saw a 7.1 percent YoY drop in standalone advertisement and publicity expenses to ₹75.3 crore in Q4 FY26 from ₹81.1 crore in the same quarter last year.

The company said the improvement in profitability was helped by improved operating leverage, AI-led automation across functions and tighter cost control.

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AI-First Expansion:

According to a news report by CNBC TV18, paid users grew 20 percent year-on-year to 5.34 million in FY26.

Online paid users were 4.87 million and offline enrolments went up to 0.47 million. PhysicsWallah also grew its physical network in the year.

The company’s centre network grew from 198 centres a year ago to 353 centres across India and the UAE.

Offline revenue grew 31% YoY to ₹1,774 crore and online revenue grew 39% to ₹1,954 crore.

The company is increasingly adopting an AI-first approach across teaching, counselling, operations and product development, said co-founders Alakh Pandey and Prateek Maheshwari in a shareholder letter.

The company said its AI tools have answered more than 99 million student questions and are now being incorporated into grading systems, learning support and voice-based tutoring solutions.

PhysicsWallah also noted growth in newer initiatives such as Earners, PW Pi and PW Talks. The company added that collections from Vishwas Diwas 2026 increased 36 percent year-on-year to Rs 205 crore.