PhysicsWallah’s net profit crosses 13x, clocks turnover of Rs 234 crore in FY22 | The Financial Express

PhysicsWallah’s net profit crosses 13x, clocks turnover of Rs 234 crore in FY22

The profit margin of the company increased nearly 41.76 % in FY22, as per Tofler.

PhysicsWallah’s net profit crosses 13x, clocks turnover of Rs 234 crore in FY22
The company clocked a total revenue of Rs 234.08 crore in FY22.

Ed-tech startup PhysicsWallah’s operating revenue rose 845.76% to Rs 232.47 crore in FY22 from Rs 24.58 crore in FY21, as per regulatory filings accessed by business intelligence platform Tofler. Meanwhile, net profit of the company increased 1312% to Rs 97.75 crore in FY22 from Rs 6.92 crore in previous fiscal year.  The company clocked a total revenue of Rs 234.08 crore in FY22.

Interestingly, the net worth of the startup company increased 14x to Rs 104.68 crore in FY22 from Rs 6.93 crore in FY21. Furthermore, in FY22, the firm’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) stood at Rs 134.45 crore. The profit margin of the company increased nearly 41.76 % in FY22, as per Tofler. 

In a recent development, in November, the edtech platform launched UPSC Wallah to offer preparation courses for Union Public Service Commission (UPSC) exams. The vertical also aims to offer multiple courses for the 2023 and 2024 UPSC exams in Hindi, English, and ‘Hinglish’, starting at Rs 7000. Further, Physicswallah plans to launch the Buniyaad series, an NCERT batch for basic to advanced level preparation of civil service exams 2023-24. 

In this October, the company acquired PrepOnline, an edtech platform and Altis Vortex, a book-publisher. Further this June 2022, PhysicsWallah raised $100 million in a Series A funding round led by GSV Ventures and WestBridge Capital and entered India’s unicorn club. 

Also Read: Majority of states agree to adopt RBI’s financial literacy programme for schools, says official

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First published on: 15-11-2022 at 08:00:00 am
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