Physics Wallah's revenue surges 3.4x to Rs 798 crore in financial year 2023

PW’s Co-founder Prateek Maheshwari said, “Our growth was significant both in the online and offline space"
Alakh Pandey Prateek Maheshwari | (Pic: PW)
Alakh Pandey Prateek Maheshwari | (Pic: PW)

Continuing its streak for the third consecutive year and scoring a hattrick of profitability, Physics Wallah (PW) reported a total revenue of Rs 798 crore, up 3.4 times from the previous year. Total student enrollment touching 24 lakh for the financial year 2023. Physics Wallah (PW) has successfully cracked the code of customer acquisition costs (CaCs). PW solved for the community first and then went after growth, capital, and integration across the value chain thereby building a sustainable business.

The company’s revenue surged 3.4 times in FY23 from the previous fiscal year driven by increased penetration within the offline category.

PW’s revenue from operations increased to Rs 771.76 crore during the fiscal year ending March 2023, compared to Rs 232.47 crore during the previous fiscal year and INR 24.6 crore in FY21. PW will soon file financial statements with the Registrar of Companies. The platform taught close to 24 lakh students across all exam categories (excluding acquisitions) up from more than 9 lakh students last year. The company saw a major growth in student numbers coming from expansion in multiple new exam categories, skilling, and an impressive surge in offline student enrolments.

PW had raised USD 100 million during the financial year 2023 and took a lead in consolidating the space through its M&A spree and entered into as much as eight partnerships in FY23, all profitable in themselves. The inorganic revenue of the order of Rs 500 crore shall reflect in the FY24 financials through these M&A made in FY23.

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