PhysicsWallah's Q2 profit doubles to ₹142 crore; management says AI now writes about 90% of its code
Revenue rose 18% to ₹1,242 crore, even as headcount and employee costs came down.
- Q2 FY27 revenue ₹1,242 crore (+18%), profit ₹142 crore
- 370 offline centres, 167 of them Vidyapeeth
- M&A budget under $20 million
The numbers
For the second quarter of FY27, PhysicsWallah reported consolidated revenue of ₹1,242 crore, up 18% from a year ago, and net profit of ₹142 crore, up from ₹70 crore.
AI and the headcount
The company had about 19,100 employees and 7,100 faculty, both lower than the previous quarter. Employee expenses, excluding ESOP costs, were down 2.3% year on year. Management said AI now writes around 90% of its code, and technology spending in the first half of FY27 was ₹104 crore against ₹70 crore a year earlier.
Offline business
Offline revenue was ₹541 crore in the quarter, up 9%. The offline arm still posted a first-half EBITDA loss of ₹108 crore, narrower than ₹120 crore a year ago. It runs 370 centres, including 167 Vidyapeeth centres, up from 117. Management said the standalone Vidyapeeth business is already profitable and expects offline to move towards breakeven.
What next
PhysicsWallah has set aside less than $20 million for acquisitions, out of the ₹300 crore it earmarked from its IPO proceeds. For FY27 it guides to revenue growth of about 30%, with acquisitions adding less than 5 percentage points.
