Physicswallah Limited (PWL) announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The company reported a revenue from operations of ₹10,824 million for Q3 FY26, marking a 33.7% year-on-year growth. For the nine months of FY26, revenue from operations stood at ₹29,807 million, an increase of 31% year-on-year. Profit after tax (PAT) for Q3 FY26 was ₹1,023 million, with a profit margin of 9.4%. The nine-month PAT was ₹450 million. The company highlighted that Q3 PAT was impacted by one-time expenses of ₹236 million, which included ₹153 million for the New Labour Code and ₹83 million for IPO-related offer expenses. Adjusted EBITDA for Q3 FY26 rose by 40% YoY to ₹3,512 million, with margins expanding to 32.4%. Pre-IndAS EBITDA for the quarter was ₹2,188 million, a 42% YoY increase, and margins were 20.2%. The company's treasury balance as of December 31, 2025, was ₹50,544 million. PWL also detailed its strategic focus on expanding its K-12 platform, investing in AI capabilities, and growing its presence in State Board and vernacular language offerings. The company acquired the assets of Tender Hearts School in Ranchi for ₹4,000 million to support its K-12 expansion. The new ESOP Policy 2025, approved by shareholders on January 18, 2026, created a new pool of 36,764,700 options.
