Advertisement

PhysicsWallah Records 14-fold Increase In Net Profit Previous Fiscal Year

Company's standalone operating revenue soared more than ninefold to Rs 232.48 crore from Rs 24.59 crore in FY21. PhysicsWallah generates revenue from the sale of educational services such as lectures and sessions on YouTube, the PW app, and its website

Edtech platform PhysicsWallah (PW) maintained its streak of profitability and recorded a sharp increase in revenue in fiscal year 22 (FY22). According to the audited financial results, the platforms' standalone net profit grew more than 14-fold to Rs 97.8 crore in the previous fiscal year, which ended in March, from Rs 6.93 crore in FY21.

Company's standalone operating revenue soared more than ninefold to Rs 232.48 crore from Rs 24.59 crore in FY21. PhysicsWallah generates revenue from the sale of educational services such as lectures and sessions on YouTube, the PW app, and its website.

After raising $100 million earlier this year, it entered the unicorn club. WestBridge Capital and GSV Ventures led the funding round. Unlike PhysicsWalllah, other edtech players across the country have been recording year-on-year losses.

The platform has more than 10 million followers on YouTube and over 5 million app downloads. Alakh Pandey started PW as a YouTube channel in 2017, and it grew exponentially during the pandemic. It caters to students preparing for medical and engineering entrance exams. Further, it intends to venture into other verticals in the domain as well.

PW’s standalone expenses grew over sixfold to Rs 103.17 crore in FY22, from Rs 15.36 crore in FY21. Out of the total expenses, employee benefits accounted for over 40 per cent at Rs 42.18 crore, growing over 20 times from Rs 2.01 crore in FY21. Despite Alakh Pandey's fame in the space, PW is also spending heavily on advertising and promotions. It grew by about 80 times to Rs 11 crore, compared with Rs 0.14 crore in FY21.

PW had expanded its hybrid classes, Pathshalas, in 22 cities. Moreover, it has ventured into the offline business and launched PW Vidyapeeth in six locations. To tap the regional market, it has introduced courses in vernacular languages. The platform is capturing the market exponentially, it has made three acquisitions this year. In the last couple of months, it has acquired test preparation platform PrepOnline, books publisher Altis Vortex, and Jaipur-based doubt-solving and resource management startup FreeCo.



Tags assigned to this article:
Physicswallah revenue Increase FY22

Around The World

Advertisement