PhysicsWallah revenue rises 18% to Rs 1,242 crore in Q2 FY27, profit jumps 2.1 times

Revenue and profit breakdown

PhysicsWallah’s revenue from operations grew 18.2% year-on-year to Rs 1,242 crore in Q2 FY27, up from Rs 1,051 crore in the same period last year, according to Entrackr. The company’s net profit rose 2.1 times to Rs 144 crore, compared to Rs 70 crore in Q2 FY26.

The online segment contributed 55.84% of operating revenue, amounting to Rs 693.5 crore, and grew 26.3% year-on-year. The offline segment, which accounted for 43.56% of revenue, rose 9.1% to Rs 541 crore. Other income brought in Rs 93 crore, lifting total income to Rs 1,335 crore.

Expenses and market performance

Employee benefits were the largest expense at Rs 522 crore, a 10.4% increase year-on-year. The cost of materials consumed rose 22.6% to Rs 195 crore, while depreciation and finance costs grew 7.6% and 4%, respectively. Other expenses increased 4.6% to Rs 249 crore, bringing total expenses to Rs 1,105 crore, up 10.5% year-on-year.

PhysicsWallah’s share price closed at Rs 127.41, reflecting a market capitalisation of Rs 37,376 crore. For the first half of FY27, the company’s revenue from operations rose 20.8% to Rs 2,293 crore, and it reported a net profit of Rs 55.35 crore, reversing a Rs 57.30 crore loss in H1 FY26.

What this means

Lazyfounder analysis — our interpretation, not reported fact.

PhysicsWallah’s latest earnings highlight a critical shift in the edtech sector: balancing growth between online and offline segments while maintaining profitability. The 26.3% year-on-year growth in its online segment suggests strong demand for digital learning tools, even as offline education remains a steady revenue stream. For founders and operators in the education space, this performance signals that hybrid models can work at scale, provided costs—particularly employee benefits and material expenses—are managed effectively.

The company’s ability to turn a profit in H1 FY27, after a loss in the same period last year, also underscores the importance of operational discipline in a sector known for high cash burn. The 10.5% rise in total expenses, compared to an 18.2% revenue increase, indicates improving efficiency. For investors, the market capitalisation of Rs 37,376 crore reflects confidence in PhysicsWallah’s growth trajectory, though the modest 9.1% rise in offline revenue may raise questions about the scalability of its physical centres.

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