PhysicsWallah, an India-based online education provider, has outlined a roadmap to full-year profitability by FY27 following strong quarterly performance.

The company reported a 26% year-on-year increase in operating revenue to Rs 1,051 crore (€9.90 million) for July–September and a 70% rise in net profit to Rs 70 crore (€6.59 million). Online enrolments account for over 90% of total registrations, highlighting digital channels as the primary growth driver.

Cofounder and CEO Alakh Pandey emphasised plans for sustainable growth, noting that revenue and profitability will rise over the next three to four years due to a large addressable market.

“We want to grow sustainably. You will see improvements in both revenue and profitability as we scale. Both numbers will rise over the next three to four years because the total addressable market is huge,” Pandey said.

Revenue is currently split almost evenly between online and offline channels. PhysicsWallah competes in test-prep segments with Aakash Institute, Allen Career Institute, and Unacademy. Growth is expected from mass-market segments, including state boards, foundation courses, and content in regional languages.

The company has diversified into 13 categories, including UPSC, GATE, CUET, foundation courses, and government exam preparation, reducing reliance on JEE and NEET. JEE and NEET accounted for 38% of enrolments in H1 FY25, falling to 35% in H1 FY26.

“New exam categories are growing rapidly. In terms of JEE and NEET growth rates, we have gained strong market share in the Hindi heartland. We are also expanding quickly in Central India and Southern India,” Pandey added.

Discover how PhysicsWallah is scaling profitability while expanding into new educational segments and geographies in the full story.