PhysicsWallah's FY23 Revenue Surges to INR 798 Crore, Marking a 3.4X Increase

Alakh Pandey-led ed-tech unicorn PhysicsWallah (PW) reported impressive financial results for the fiscal year 2022-23 (FY23), showcasing robust revenue growth. The company's revenue climbed to INR 798 crore, marking a significant 3.4-fold surge from the previous year. This remarkable performance is attributed to PW's expanded presence in the offline education sector. The revenue from operations saw a substantial increase, reaching INR 771.76 crore, compared to INR 232.47 crore in FY22 and INR 24.6 crore in FY21. Despite the notable revenue growth, PhysicsWallah maintained profitability, reporting an adjusted EBITDA of INR 127 crore in FY23. The company aims for further expansion, targeting 250,000 students by the 2024-25 academic year.