Indian edtech firm PhysicsWallah reported a pointy enchancment in its monetary efficiency for the 2025-26 monetary 12 months, as sturdy development in each its on-line and offline companies helped slender losses and enhance profitability.

The corporate mentioned consolidated income from operations rose 35% year-on-year to Rs 3,899.5 crore in FY26, in contrast with Rs 2,886.6 crore a year earlier. Complete earnings elevated to Rs 4,131 crore from Rs 3,039 crore in FY25.

For the quarter ended March 2026, income from operations climbed 51% to Rs 918.8 crore, up from Rs 609.6 crore in the identical interval final 12 months. Complete quarterly earnings, together with different earnings, stood at Rs 984 crore.

Its earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) rose sharply in the course of the 12 months to Rs 549 crore, in contrast with Rs 193 crore in FY25. EBITDA margin improved to 14.1% from 6.7% a 12 months earlier.

Within the March quarter, PhysicsWallah posted EBITDA of Rs 65 crore, in contrast with a lack of Rs 204 crore in the identical quarter final 12 months.

Regardless of the operational positive aspects, the corporate remained loss-making. Consolidated internet loss for FY26 stood at Rs 24.2 crore, though this marked a considerable enchancment from the Rs 243.3 crore loss reported in FY25. The corporate mentioned one-time bills of round Rs 63 crore affected profitability in the course of the 12 months.

Quarterly losses additionally narrowed considerably. PhysicsWallah reported a internet lack of Rs 69.1 crore in This autumn FY26, down from Rs 289.3 crore a 12 months earlier. The quarter included a non-cash goodwill impairment cost of Rs 29 crore.

On-line studying remained the corporate’s largest income, contributing Rs 1,954 crore throughout FY26, whereas offline income rose to Rs 1,774 crore because the agency expanded its bodily training centre community.

PhysicsWallah elevated its variety of offline centres to 353 in the course of the 12 months, up from 198 beforehand. The growth included Vidyapeeth and Pathshala centres, together with subsidiary and different branded areas.

It additionally reported development in its pupil base. Complete paid customers rose 20% year-on-year to five.34 million, whereas offline pupil enrolments elevated to 0.47 million.

Worker advantages expense, excluding share-based funds, remained the biggest adjusted value merchandise at Rs 1,735 crore throughout FY26. Depreciation and amortisation prices additionally elevated as the corporate expanded infrastructure and added belongings.

PhysicsWallah’s stability sheet strengthened in the course of the 12 months, with whole belongings rising to Rs 7,676.8 crore as of March 2026, from Rs 4,156.4 crore a 12 months earlier. Its money and money equivalents elevated to Rs 359.5 crore, whereas investments rose to Rs 2,229.7 crore.

Working money circulate improved to Rs 833.2 crore throughout FY26, though the corporate spent closely on investments, acquisitions and growth initiatives. Financing actions generated Rs 2,755.1 crore, supported by recent capital infusion and IPO-related funding.

PhysicsWallah has additionally made investments outdoors its core test-preparation enterprise. It elevated its stake in Kay Way of life and Wellness, which operates within the yoga and wellness section, and infused capital into FinZFinance.