PhysicsWallah Q1 loss narrows, revenue tops Rs 1,000 crore

Edtech major PhysicsWallah reported a 24.4% year-on-year rise in operating revenue to Rs 1,054 crore for the June quarter, crossing the Rs 1,000-crore mark for the first time, multiple reports say. Revenue from the K-12 and early learning segment jumped 88% to Rs 105 crore, with enrolments up 41% to 7.8 lakh.

Consolidated net loss narrowed to between Rs 77.5 crore and Rs 88.3 crore, depending on the source. NDTV Profit and Free Press Journal put the loss at Rs 77.6 crore and Rs 77.5 crore, respectively, while Inc42 reports Rs 88.3 crore. All three agree expenses rose 18% year on year to Rs 1,247 crore. On a sequential basis, Inc42 notes the loss widened 27.8% from Rs 69.1 crore.

PhysicsWallah shares gained as much as 7.5% on August 17 after the results. The company said NEET enrolments were delayed this year by the examination cycle, but demand has strengthened since July after results were announced.