PhysicsWallah share price jumps over 5% after strong Q2 results
- 9th December 2025
- 12:00 PM
- 3 min read
Summary
PhysicsWallah delivered a strong Q2 FY26 with net profit rising nearly 70% year-on-year to ₹69.7 crore and revenue from operations up 26% to ₹1,051.2 crore. Profitability and margins improved meaningfully, while paid user enrolments and the offline footprint continued to scale.Mumbai | December 9 –
PhysicsWallah Q2 FY26 Financial Results
PhysicsWallah reported its first quarterly numbers after going public, posting a consolidated net profit of ₹69.7 crore for Q2 FY26, up from ₹41.1 crore a year earlier, reflecting a nearly 70% year-on-year increase.
The company had reported a loss of ₹127 crore in Q1 FY26, making significant turnaround from the June quarter.
Operating revenue rose 26% to ₹1,051.2 crore, compared to ₹832.2 crore in Q2 FY25, driven by both online and offline learning channels.
Total expenses climbed 25% year-on-year to almost ₹1,000 crore, and lower than ₹1,054.2 crore in Q1, aiding margin expansion.
Quarterly Performance Snapshot
| Metric | Q2 FY26 (Crore) | Q2 FY25 (Crore) | YoY Change | Q1 FY26 (Crore) |
| Revenue from Operations | ₹ 1,051.2 | ₹ 832.2 | 26% | ₹ 847 |
| Net Profit | ₹ 69.7 | ₹ 41.1 | 70% | (₹ 127) Loss |
| Metric | Q2 FY26 | Q2 FY25 |
| Adjusted EBITDA Margin | 26% | 23% |
| PAT Margin | 7% | 5% |
PhysicsWallah Share Price Reaction
PhysicsWallah shares jumped over 5% in today’s early session as investors reacted to the company’s improving operating performance.
The shares of the company hit a day’s high at Rs 145.60 per share in the early trading hours of Tuesday, the highest level seen by the stock in more than two weeks.
The stock is currently nearly 34% higher than its IPO price of Rs 109 per share.
However, it is only marginally higher that is listing price
User Growth and Offline Centre Expansion (H1 FY26)
PhysicsWallah’s paid learner base reached 3.62 million, up 29% year-on-year, including:
- 3.22 million online paid users
- 0.40 million offline enrolments
The company continues to expand its hybrid learning footprint, operating 314 centres in H1 FY26, up from 186 centres a year earlier, comprising:
- 117 PW Vidyapeeth centres
- 75 PW Pathshala centres
- 53 other PW centres
- 69 subsidiary centres
Faculty strength: 6,643 employees and consultants
Platform engagement remains strong with:
- 3.5 million daily average users
- 103 minutes average engagement time
- 125+ million social subscribers
Strong Free Cash Flow Position
PhysicsWallah generated ₹644 crore in free cash flow during H1 FY26, compared to ₹543 crore in H1 FY25, indicating healthy cash conversion and operational stability.
PhysicsWallah IPO Listing
PhysicsWallah made its market debut on November 18 with 36% listing gains, opening at ₹145 on the NSE and ₹143.10 on the BSE, against an issue price of ₹109.
The company’s ₹3,480 crore IPO was subscribed nearly 2x, with active participation across investor categories.
Where PhysicsWallah’s Next Phase of Growth Will Come From?
PhysicsWallah’s next growth levers lie in mass-market categories, including State Boards, Foundation learning and vernacular-language content. While the platform has traditionally been strongest in Hindi-speaking markets, it is now preparing for deeper expansion into non-Hindi regions, unlocking a broader nationwide audience.
The company is also scaling Pi — its low-ticket learning platform, designed as a distraction-free alternative to YouTube and priced at ₹300–400. Pi allows PhysicsWallah to monetise learners outside traditional paid segments while maintaining affordability and strong engagement.
These initiatives can drive the next leg of user monetisation, engagement, and regional penetration, strengthening long-term earnings visibility.
