Edtech unicorn PhysicsWallah reported a strong performance in Q4 FY26, with revenue rising more than 50% year-on-year, while its losses narrowed 76% to Rs 69 crore during the quarter. PhysicsWallah’s operating revenue grew to Rs 919 crore in Q4 FY26 from Rs 610 crore in Q4 FY25, according to its consolidated financial statement sourced from NSE. While the filing does not provide a detailed revenue breakup, PhysicsWallah primarily earns revenue from online and offline courses for JEE, NEET, state boards, and other competitive exams, along with the sale of study materials. The company also earned Rs 65 crore from interest income and gains on financial assets, taking its total revenue to Rs 984 crore in Q4 FY26. For the full year ended March 2026, its revenue surged 35% year-on-year to Rs 3,900 crore from Rs 2,887 crore in FY25. On the expense front, employee benefits remained the largest cost centre, accounting for 47% of total expenses at Rs 487 crore in Q4 FY26. This cost increased nearly 30% year-on-year. Depreciation and amortisation expenses stood at Rs 122 crore, while direct expenses rose marginally by 6% to Rs 144 crore during the quarter. Overall expenditure for the Alakh Pandey-led firm rose over 7% year-on-year to Rs 1,035 crore in Q4 FY26 from Rs 964 crore in Q4 FY25. Strong revenue growth coupled with controlled spending helped the PhysicsWallah-led by Alakh Pandey narrow its losses by 76% to Rs 69 crore in Q4 FY26 from Rs 289 crore in the corresponding quarter last year. Notably, the quarterly loss included a non-cash goodwill impairment expense of Rs 29 crore. For the financial year FY26, the firm narrowed its losses by 90% to Rs 24 crore from Rs 243 crore in FY25. PhysicsWallah infused capital intoFinZFinanceto strengthen its financial services vertical. Earlier this year, the company also expanded into the yoga and wellness segment by increasing its stake inKay Lifestyle and Wellness(Kamya Yoga & Wellness), as it diversifies beyond its core test-prep business following its stock market debut. At the end of today’s trading session, the Noida-based company’s share price closed at Rs 112.1, giving it total market capitalization of Rs 32,381 crore ($3.4 billion). Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
