Indian edtech firm PhysicsWallah delivered a solid financial performance in Q3 FY26, posting another profitable quarter while continuing to scale its hybrid learning ecosystem. The company reported revenue from operations of ₹1,082 crore for the quarter, marking a 34% year-on-year increase, along with a profit after tax (PAT) of ₹102 crore.
During the first nine months of FY26, PhysicsWallah generated ₹2,981 crore in revenue, reflecting a 31% year-on-year growth and already surpassing the company’s full FY25 revenue within the first nine months of the fiscal year. Adjusted EBITDA for the same period stood at ₹647 crore, highlighting improved operational efficiency and strong profitability trends.
The company also reported a nine-month PAT of ₹45 crore after adjusting for one-time expenses, demonstrating sustained earnings performance across quarters. Growth was supported by a rapidly expanding learner base. Total paid users increased to 4.37 million, compared to 3.60 million a year earlier. Online enrollments crossed 3.96 million, while offline enrollments reached approximately 4.1 lakh students, supported by a network of 318 learning centres across India.
PhysicsWallah continued strengthening its technology-led education offerings by investing in AI-powered solutions such as AI Guru, AI Mentor, AI Grader, and AI Books to enable personalized learning at scale. The company also launched an AI-driven English-speaking platform designed to help learners improve conversational skills through real-time feedback, which has already crossed 10 lakh sign-ups. With operating cash flow exceeding ₹643 crore in the nine-month period and treasury reserves of more than ₹5,054 crore, the company remains well-capitalized to expand course categories, strengthen regional-language programs, and scale its nationwide centre network.
As PhysicsWallah continues expanding its hybrid learning model, the company aims to further strengthen its presence across competitive exam preparation, skilling, and higher-education segments, positioning itself for long-term growth in India’s fast-evolving edtech market.
