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Physicswallah Q3 Results: Net profit up 10% on solid revenue growthEBITDA for the quarter stood at ₹236.3 crore, up 28.7% YoY. The EBITDA margin came in at 21.8% for the quarter, compared with 22.7% in the year-ago period. Shares of Physicswallah Ltd ended at ₹121.70, down by ₹0.25, or 0.21%, on the BSE.By Jomy Jos Pullokaran  February 5, 2026, 9:05:49 PM IST (Updated)3 Min ReadEdtech 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.

PhysicsWallah’s online business continued to gain strong traction, recording over 3.96 million enrollments in the nine months ended December 31, 2025, a 20% increase compared to the same period last year. Offline enrollments grew 36% YoY through PW’s nationwide network of 318 centres as of December 31, 2025.

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

Revenue for 9M FY26 grew 31% year-on-year to ₹1,082.4 crore, primarily driven by an increase in unique paid users from 3.60 million to 4.37 million. Paid users in the online channel stood at 3.96 million, up from 3.30 million a year ago, while offline student enrollments reached 0.41 million, compared with 0.30 million in 9M FY25. PW’s online penetration is approximately 2% of India’s total online education market, indicating significant long-term growth potential.

Profit after tax (PAT) for 9M FY26 stood at ₹45 crore, after adjusting for one-time expenses of ₹23.6 crore. Pre-IndAS EBITDA for Q3 FY26 grew 42% YoY to ₹218.8 crore, with margins expanding to 20.2% for the quarter.

The company reported strong cash flow from operations of ₹642.9 crore for 9M FY26, compared with ₹506.9 crore for the full year FY25. As of December 31, 2025, PW’s treasury stood at ₹5,054.4 crore, including IPO proceeds, demonstrating robust capital efficiency.

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

PhysicsWallah operates 318 centres nationwide, including 122 PW Vidyapeeth, 75 PW Pathshala, 53 other PW centres, and 68 subsidiary centres. In 9M FY25, the total number of centres was 186. The company offers 16 categories of courses, adding three new categories in Q3 FY26.

The online channel has 3.96 million unique transacting users, while offline student enrollments total 0.41 million. PW employs 6,807 faculty members, including employees and consultants. Daily average users exceed 3.4 million, with an average engagement time of over 106 minutes. The company has built a social media community of more than 134 million subscribers across platforms.

PW’s growth is driven by an expanding user base and a diversified portfolio, including AI-powered products, value-added services, crash courses, and offline batches across segments such as Civil Services Examinations, other government exams, and Chartered Accountancy.

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

Also Read: PhysicsWallah IPO: All you need to know about the edtech unicorn's public issueContinue Reading(Edited by : Shoma Bhattacharjee)First Published: Feb 5, 2026 8:48 PM ISTTagsearningsResults Boardroomshare market today