Press Release

Indian edtech firm PhysicsWallah posts $119.6m Q3 revenue

• ByStartupStory     |    February 6, 2026

PhysicsWallah reported a profitable third quarter and nine-month period ending December 2025, surpassing its full FY25 revenue within nine months of FY26.

Revenue from operations rose 34% year-on-year to 10.8 billion rupee (US$119.6 million) in Q3, while PAT stood at 1.02 billion rupee (US$11.3 million).

Pre-IndAS EBITDA grew 42% to 2.19 billion rupee (US$24.2 million), with margins at 20.2%.

For the nine months, revenue increased 31% to nearly 30 billion rupee (US$332.1 million), driven by growth in paid users to 4.37 million.

Online enrollments reached 3.96 million, while offline enrollments rose 36% to 410,000.

Cash flow from operations was 6.43 billion rupee (US$71.2 million), and treasury stood at 50.5 billion rupee (US$559.1 million).

The company also expanded its centers from 186 to 318 during the period.

🔗 Source: PhysicsWallah

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