Physicswallah Ltd.Revenue +24% to ₹1,054 Cr, loss narrows

Physicswallah reported Q1 FY27 revenue of ₹1,054 Cr, up 24%, with online revenue up 33% and offline and other up about 16%, in line with plan.

Pre-Ind AS EBITDA was a loss of ₹44 Cr, a 4% margin, improving 624 bps from last year, while Ind AS EBITDA was positive at ₹52 Cr and profit before tax was a loss of ₹84 Cr against ₹152 Cr, after a one-time non-cash charge on buying more of Saarthi IAS. The NEET exam cycle shifted by five to seven weeks, which management says moved enrollments into Q2, with collections after the 16 July results up about 50%. Online K-12 revenue rose 88% to ₹105 Cr and NEET PG collections doubled.

Treasury is ₹5,600 Cr. Management held FY27 guidance of 30% revenue growth and 100% EBITDA improvement, targets near profitability in offline this year, plans to sell Finzy Fintech within a quarter and will roll out an AI tutor next quarter.