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PhysicsWallah Limited reported consolidated revenue of ₹10.82 billion and net profit of ₹1.01 billion for Q3 FY26, marking another profitable quarter. The company’s nine-month FY26 revenue crossed its full FY25 tally, driven by paid user growth, offline expansion, and strong adoption of AI-powered educational offerings.
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PhysicsWallah Limited (NSE: PWL, BSE: 544609), India’s leading tech-enabled education platform, announced robust financial results for the quarter ended December 31, 2025. The company continues to strengthen its market position with consistent profitability and rapid scale across online and offline channels.
Key Highlights
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Revenue from operations in Q3 FY26 stood at ₹10,824 million, up 34% year-on-year
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Adjusted EBITDA reached ₹3,512 million with a margin of 32%, reflecting a 40% YoY growth
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Consolidated net profit was ₹1,023 million, maintaining a 9% margin and growing 33% YoY
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Nine-month FY26 revenue surged to ₹29,807 million, a 31% YoY increase, surpassing FY25 full-year revenue
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Total paid users rose to 4.37 million, up 21% YoY, with online enrollments at 3.96 million and offline enrollments at 0.41 million
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Centre network expanded to 318 centres nationwide, compared to 186 in 9M FY25
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Cash flow from operations reached ₹6,429 million in 9M FY26, with treasury reserves of ₹50,544 million including IPO proceeds
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AI-driven initiatives such as AI Guru, Ask AI, and PW Talks gained traction, with PW Talks crossing 1 million sign-ups
Source: PhysicsWallah Limited press release, National Stock Exchange of India, BSE Limited
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