Physicswallah shares rally 10% as profit soars twofold YoY to ₹146 crore, EBITDA margin expands

The company reported a 101.25% year-on-year (YoY) growth in its consolidated net profit to ₹145.57 crore during the quarter under review, compared with ₹72.33 crore in the second quarter of the 2025-26 fiscal year (Q2 FY26).

The net profit was helped by a ₹20 crore goodwill impairment and a ₹10 crore fair-value gain.

“Profitability improved as the recovery worked through the business,” the company said in its earnings statement.

Its consolidated revenue from operations stood at ₹1,242.26 crore in the quarter ended September 30, 2026, marking an 18.2% YoY increase from ₹1,051.24 crore in the same period last year.

The firm’s adjusted EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, jumped 47.8% YoY to ₹399 crore for the reporting period, in comparison to ₹270 crore in the September quarter of FY26.

Its EBITDA margin expanded by 640 basis points (bps) YoY to 32.1% in Q2 FY27, compared with 25.7% in the year-ago period.

In Q2, its National Eligibility cum Entrance Test (NEET) enrolments grew over 30%, as demand delayed by the NEET UG postponement came through.

While its online revenue surged 26% YoY to ₹694 crore in Q2, its offline revenue advanced 9% to ₹541 crore.

Its total paid users rose 7% YoY to 3.86 million in the July-September quarter of FY27, and daily active users stood at over 4.1 million.

Commenting on the earnings, Alakh Pandey, Founder and CEO of PhysicsWallah Ltd, said: “This quarter shows the strength of our model. We delivered record revenue and a sharp improvement in profitability, while our learner base kept widening across K-12, vernacular and new categories. Our focus remains on scaling affordable, tech-led education with disciplined capital allocation.”

Physicswallah share performance

At around 10:50 AM, the stock was trading 4.48% higher at ₹133.12 per equity share.

The scrip has jumped 2% in the past week and 3% over the month. On a year-to-date (YTD) basis, it has risen 2%.

While the shares hit a 52-week high of ₹161.99 per unit on November 18, 2025, they touched a year’s low of ₹77.72 apiece on March 4, 2026.

Physicswallah has a total market capitalisation of ₹38,679.53 crore as of November 5, 2026, according to data on the NSE.