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Alakh Pandey-led Physics Wallah's profit declines 91% from Rs 98.2cr to Rs 8.9 crore in FY23

IndianStartupNews

IndianStartupNews · 1y ago

Alakh Pandey-led Physics Wallah's profit declines 91% from Rs 98.2cr to Rs 8.9 crore in FY23

Alakh Pandey-led edtech unicorn PhysicsWallah witnessed a significant drop in net profit for FY23, with a decline of 91% to Rs 8.9 crore. This decline can be attributed to a substantial increase in expenses, including employee benefits, advertising costs, and rent expenses due to offline expansion. However, the company saw a notable increase in total revenue of 234% to Rs 798 crore, driven by its expanded penetration in the offline category. PhysicsWallah has also pursued an aggressive expansion strategy, including acquisitions and entry into primary education.

Related News

PhysicsWallah Cofounder Alakh Pandey’s Remuneration More Than Halves To INR 4.6 Cr In FY23

Inc42 · 1y ago

PhysicsWallah Cofounder Alakh Pandey’s Remuneration More Than Halves To INR 4.6 Cr In FY23

PhysicsWallah's co-founder, Alakh Pandey, received a remuneration of INR 4.57 Cr in FY23, indicating a decline in remuneration. The average founder salary increased by 69.7% to INR 5.77 Cr in FY23. PhysicsWallah reported a 91% decline in net profit to INR 8.9 Cr in FY23, primarily due to increased expenses. Its operating revenue rose by 234% to INR 779.3 Cr in the same period. The edtech startup has expanded its services, including offline education, upskilling programs, and acquisitions.

Physics Wallah launches PW Gurukulam School in Gurugram

IndianStartupNews

IndianStartupNews · 1y ago

Physics Wallah launches PW Gurukulam School in Gurugram

Physics Wallah, the edtech unicorn led by Alakh Pandey, has entered the traditional schooling system with the launch of PW Gurukulam School in Gurugram. The school aims to enroll 400 students in its first batch and offers a curriculum aligned with the National Education Policy 2020. It focuses on all-inclusive education, innovation, and culture, with an emphasis on experiential learning and skills like financial literacy and entrepreneurship. The launch reflects Physics Wallah's expansion beyond online learning and its dedication to enhancing educational opportunities in India.

It's good that PhysicsWallah didn't get funding initially: CEO

YourStory

YourStory · 1y ago

It's good that PhysicsWallah didn't get funding initially: CEO

Alakh Pandey, Founder and CEO of Physics Wallah, shared his journey from humble beginnings to building a unicorn at TechSparks 2023. He emphasized the advantages of starting from the basics and doing various roles within the company. Physics Wallah began as a YouTube channel and now provides online learning experiences in multiple categories, boasting over a crore subscribers on YouTube. Pandey expressed optimism about the company's financial prospects, projecting a sizable profit and significant revenue increase for the ongoing financial year. Additionally, he emphasized the importance of health and happiness.

PhysicsWallah appoints former Blinkit executive as CFO

Entrackr

Entrackr · 9m ago

PhysicsWallah appoints former Blinkit executive as CFO

Edtech unicorn Physics Wallah (PW) has appointed former Blinkit executive Amit Sachdeva as its new chief finance officer (CFO). Sachdeva will lead the strategic and financial initiatives at the company, the appointment will also plant to ramp up its financial oversight and sustainable growth. Sachdeva has more than two decades of experience and has worked for multiple companies, including IGT Solutions and Wipro. “Amit’s experience in financial leadership and his focus on robust corporate governance will be invaluable as we continue our efforts to grow and broaden our educational impact. His approach to finance as a transformative tool aligns with PW’s goals,” said Alakh Pandey, CEO of Physics Wallah. Initially launched as a YouTube channel in 2014, Physics Wallah claims to offer free education to over 4.6 crore (46 million) students through its more than 112 YouTube channels in five vernacular languages. It has 5.5 million paid students. In September, Physics Wallah (PW) raised $210 million in a Series B funding round led by Hornbill Capital. According to data intelligence platform TheKredible, the company’s revenue from operations surged to Rs 1,940.4 crore in FY24, compared to Rs 744.3 crore in FY23.

Alakh Pandey’s PW to offer full tuition waivers for children of SSB martyrs and personnel

IndianStartupNews

IndianStartupNews · 1m ago

Alakh Pandey’s PW to offer full tuition waivers for children of SSB martyrs and personnel

Physics Wallah (PW), led by Alakh Pandey, has partnered with the SSB Wives Welfare Association, Sandiksha, to provide full tuition waivers for children of Sashastra Seema Bal (SSB) martyrs. This initiative also offers a 35% scholarship for offline and a 25% scholarship for online courses to children of serving and retired SSB personnel. The scholarships cover various competitive exam preparation courses, accessible through PW's online and offline centers across India.

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

IndianStartupNews

IndianStartupNews · 1y ago

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

Indian edtech unicorn Physics Wallah has launched its first offline centre in Saket, Delhi, offering coaching for competitive exams like ESE, GATE, and SES. This move is part of Physics Wallah's expansion plan to establish 18 new educational centres across 12 cities, with an investment of approximately Rs 120 crore. The centre aims to provide comprehensive exam preparation, personalized mentoring, and access to advanced educational resources. Physics Wallah is a leading edtech startup in India, offering online and offline coaching for competitive exams.

11 Mn+ Monthly Online Users, 11 Acquisitions: Decoding Edtech Unicorn Physics Wallah’s (PW) Blueprint For Success

Inc42 · 1y ago

11 Mn+ Monthly Online Users, 11 Acquisitions: Decoding Edtech Unicorn Physics Wallah’s (PW) Blueprint For Success

Physics Wallah, an Indian edtech unicorn, has achieved back-to-back profitable years despite the challenges faced by the industry. Founded by Alakh Pandey, the platform started as a YouTube channel offering online learning for medical and engineering test preparations. It has since expanded to cover 28 exam categories, diversified into the K-12 segment, and launched technology-focused upskilling programs. Despite criticism of spreading too thin, Physics Wallah has seen significant growth and aims to reach INR 1,950 Cr in revenue for the current financial year. Its success lies in its affordability and vernacular push, which benefits the bottom 80% of the student pyramid.

Physics Wallah Selects 4 Investment Bankers For $500 Mn IPO

Inc42 · 10m ago

Physics Wallah Selects 4 Investment Bankers For $500 Mn IPO

- Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan have been shortlisted as bankers for Physics Wallah's upcoming IPO. - The proposed IPO is expected to include a combination of fresh issuance of shares and offer for sale. - The deal size is yet to be finalized but may aim to raise between $400 Mn to $500 Mn. - Physics Wallah recently raised $210 Mn in a funding round led by Hornbill Capital, effectively doubling its valuation to $2.8 Bn.

EdTech firm moves SC, challenges award of grace marks to over 1,500 candidates in NEET-UG, 2024

Economic Times

Economic Times · 1y ago

EdTech firm moves SC, challenges award of grace marks to over 1,500 candidates in NEET-UG, 2024

The CEO of EdTech company Physics Wallah, Alakh Pandey, has filed a plea in the Supreme Court against the alleged random award of grace marks by the National Testing Agency (NTA) to over 1,500 candidates who took the NEET-UG 2024 exam. The plea claims that 70 to 80 marks were randomly awarded as grace marks to these candidates. The court has not stayed the counseling process for now but has indicated that this matter will be taken up with other related petitions. A thorough investigation into the conduct of the exam has been sought.

PhysicsWallah launches new school to provide elementary education

Inc42 · 1y ago

PhysicsWallah launches new school to provide elementary education

PhysicsWallah, led by Alakh Pandey, has entered the offline education space with the launch of PW Gurukulam School. Located in Gurugram, the school will offer elementary education from play school to seventh grade, with a curriculum affiliated to CBSE. The school has enrolled 400 students for its inaugural batch and aims to provide experiential learning, focusing on financial literacy, entrepreneurship, and programs like Model United Nations. PhysicsWallah, which started as a YouTube channel and later expanded into various segments, currently has 67 offline centers across 38 cities and recorded significant revenue growth in FY23.

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