Physicswallah Q3 Results: Net profit up 10% on solid revenue growth

Edtech unicorn Physicswallah Ltd on Thursday (February 5) reported a net profit of ₹100.5 crore for the third quarter, up 9.72% from ₹91.6 crore in the year-ago period. Revenue for Q3 grew 33.7% year-on-year to ₹1,082.4 crore, compared with ₹809.6 crore in the corresponding quarter last year.

EBITDA for the quarter stood at ₹236.3 crore, up 28.7% from ₹183.6 crore in the same period a year ago. The EBITDA margin came in at 21.8% for the quarter, compared with 22.7% in the year-ago period.

Founded in

2016 by Alakh Pandey, who began by uploading free physics lessons on YouTube, PhysicsWallah gained prominence during the pandemic. The company currently operates 303 offline centres across 152 cities in India and the Middle East.

Also Read: PhysicsWallah IPO Listing: Shares list at a 36% premium to its IPO price of ₹109

PhysicsWallah made a strong debut on the bourses, delivering gains of 36% when it listed at ₹145 on the NSE and ₹143.10 on the BSE, compared with an issue price of ₹109.

The company's ₹3,480 crore IPO was subscribed nearly two times during the November 11-13 window, with retail investors subscribing 106%, non-institutional investors 48% and qualified institutional buyers 2.7 times their allotted quota.

Shares of Physicswallah Ltd ended at ₹121.70, down by ₹0.25, or 0.21%, on the BSE today, February 5.

Also Read: PhysicsWallah shares drop 8%, extend losses back towards IPO price