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Drishti IAS posts Rs 364 Cr revenue and Rs 61 Cr PAT in FY25

EntrackrEntrackr · 3d ago
Drishti IAS posts Rs 364 Cr revenue and Rs 61 Cr PAT in FY25
Medial

Fintrackr All Stories Drishti IAS posts Rs 364 Cr revenue and Rs 61 Cr PAT in FY25 Offline coaching firm Drishti IAS has reported operating revenue of Rs 364 crore in FY25, a 10% decline from Rs 405 crore in the previous year, according to its audited financial results. The company’s EBITDA declined to Rs 77 crore from Rs 127 crore, while profit after tax fell 32% to Rs 61 crore from Rs 90 crore year on year. The company attributed the revenue dip to Ind-AS based accounting adjustments and a broader normalisation in the offline coaching sector following the post Covid surge in enrolments. Drishti IAS also cited the stabilisation of classroom admissions across major coaching hubs as student numbers return to pre-Covid levels. Importantly, the relocation of its primary Mukherjee Nagar centre to a compliant facility in Noida during FY25 resulted in a revenue loss of over Rs 30 crore. Founded in 1999 by Vikas Divyakirti, Drishti IAS focuses on UPSC and PCS exam preparation and operates eight centres across Delhi, Noida, Prayagraj, Lucknow, Jaipur, Indore, Ranchi, and Patna. Drishti IAS is expanding across offline and online segments. It opened new centres in Ranchi and Patna in FY26, launched lower-priced studio-based online programmes, and entered Judiciary, Teaching Exams, and SSC categories. The firm also plans to expand into Banking, Defence, and School education, said CEO Vivek Tiwari through a press statement. The company has appointed Vipan Joshi as Chief Financial Officer. Joshi previously served as CFO at Aakash Institute. Originally an offline only coaching institute, Drishti IAS launched its online arm in FY21. In FY25, nearly one third of its revenue came from online operations, with the remainder from offline centres. It is worth noting that PhysicsWallah was in talks to acquire Drishti IAS, but the discussions were eventually called off, with both companies choosing to pursue independent growth strategies.

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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
Medial

Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.

Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off

EntrackrEntrackr · 7m ago
Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off
Medial

Exclusive: PhysicsWallah–Drishti IAS acquisition deal called off In April 2025, Entrackr exclusively reported that PhysicsWallah was evaluating acquisitions to strengthen its presence in the Union Public Service Commission (UPSC) test preparation segment. The highly anticipated acquisition of Drishti IAS by edtech unicorn PhysicsWallah has been called off, according to two sources. The deal was in advanced stages but did not materialize due to multiple reasons. The deal was estimated at Rs 2,500-Rs 3,000 crore. Drishti IAS, along with other institutes like Chaitanya Academy, Rau's IAS Study Circle, and Sarrthi IAS were among the assets being considered for potential acquisition. “Drishti IAS considered the proposal after being approached by PhysicsWallah, but given its strong revenue and profitability, the company has decided to continue operating independently and is not looking to raise external funding and acquisition," said one of the sources requesting anonymity. Drishti IAS, founded in 1999, has established itself as a leading player in civil services preparation, particularly for Hindi-medium students. The Delhi-based institute reported a revenue of Rs 405 crore and a profit after tax of Rs 90 crore in FY24. Sources added that Drishti is expected to close FY25 with a decent growth in revenue as well as profit. PhysicsWallah, known for its affordable online coaching, has been expanding its offerings beyond engineering and medical entrance exams into the competitive UPSC coaching space. The potential acquisition of Drishti IAS was seen as a strategic move to bolster its offline presence and diversify its portfolio ahead of its planned IPO. PhysicsWallah declined to comment on the story, while Drishti IAS did not respond to queries until the time of publication. Media reports suggest that PhysicsWallah filed draft papers via confidential route in March to raise Rs 4,600 crore through an initial public offering (IPO). If successful, it will become the first edtech unicorn to be listed on the stock exchange.

Exclusive: PhysicsWallah in talks to acquire Drishti IAS for Rs 2,500 Cr

EntrackrEntrackr · 10m ago
Exclusive: PhysicsWallah in talks to acquire Drishti IAS for Rs 2,500 Cr
Medial

Edtech unicorn PhysicsWallah is in the advanced stages of acquiring offline coaching firm Drishti IAS Institute, according to three sources familiar with the matter. If finalized, this will mark the largest acquisition in the edtech space in the past couple of years. “PhysicsWallah is spending around Rs 2,500–3,000 crore to acquire the UPSC and state commissions preparatory platform,” said one of the sources, requesting anonymity. “The two companies have been in talks since January this year, and the deal is likely to be finalized soon.” The development comes at a time when PhysicsWallah is preparing for its initial public offering (IPO). The Noida-based company recently appointed three independent directors and is aiming to raise $500 million at a $5 billion valuation through the public listing. According to sources, the payment for the deal will be made in tranches and will be tied to future performance milestones. “Although we have been meeting several people from different organisations (IPO Bankers, PEs & Edtech founders) for our future plans, nothing has been finalized so far. The information you are talking about is just a rumour which shouldn't be taken seriously at all,” said Vivek Tiwari, CEO, Drishti IAS. Queries sent to PhysicsWallah did not elicit an immediate response. Drishti IAS, a 26-year-old educational platform that mainly provides offline coaching to help students prepare for the Civil Services Examination (CSE), reported Rs 405 crore in revenue with Rs 90 crore profit after tax (PAT) in FY24. Founded by Vikas Divyakirti, the Mukherjee Nagar Institute is the largest revenue contributor for Drishti IAS, accounting for 58% of the total coaching income, followed by Prayagraj, Jaipur, and Karol Bagh. On the other hand, nine-year-old PhysicsWallah has expanded into a full-fledged edtech platform offering live and recorded lectures, test series, study materials, and offline hybrid centers. The firm has raised over $300 million to date and was valued at around $2.8 billion during a $210 million Series B round in September last year. PhysicsWallah’s revenue from operations surged to Rs 1,940.4 crore in FY24, compared to Rs 744.3 crore in FY23. However, following the rising expenditure, its losses deepened over 13X to Rs 1,131 crore in FY24 against Rs 84 crore reported in FY23. The potential deal aligns with PhysicsWallah’s focus on offline coaching. Last year, the Lightspeed and WestBridge-backed company stated that it aims to achieve over Rs 1,000 crore in offline revenue by the end of FY25.

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%

EntrackrEntrackr · 3m ago
Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65%
Medial

Furlenco turns around in FY25: Posts profit after Rs 130 Cr loss, revenue surges 65% Furlenco managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. After a tepid performance in the last fiscal year, subscription-based furniture rental firm Furlenco has made a notable comeback in FY25. The Bengaluru-based firm managed 65% year-on-year revenue growth and kept tight control on expenses. As a result, Furlenco posted a Rs 3 crore profit after tax (PAT) in FY25, compared with a Rs 130 crore loss in FY24. Furlenco’s revenue from operations grew to Rs 229 crore in FY25 from Rs 139 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Furlenco provides furniture and home decor for rent along with relocation services. Income from furniture rental services accounted for 91% of the operating revenue, which grew by 61% to Rs 208 crore in FY25. Income from the sale of products (furniture including sofas and beds), more than doubled to Rs 21 crore during the fiscal year ending March 2025. Including other non-operating activities such as treasury gains of Rs 11 crore, its total income rose to Rs 240 crore in FY25. The company streamlined its cost structure and reduced its total expense by 16% to Rs 237 crore in FY25 from Rs 282 crore in FY24. Employee benefits expenses decreased by 35% year-on-year to Rs 31 crore in FY25, while finance costs dropped 41% to Rs 19 crore in FY25. Cost of material, however, rose 33% to Rs 8 crore in FY25. Depreciation on the company’s furniture rose 29% to Rs 45 crore in FY25 from Rs 35 crore in FY24. With strong revenue growth and lower burn, Furlenco turned profitable and posted a profit of Rs 3 crore in FY25, in contrast to a loss of Rs 130 crore in FY24. Its ROCE and EBITDA margin improved significantly to 5.68% and 24.45%, respectively. On a per-unit basis, the firm spent Rs 1.03 to earn every rupee of operating revenue, compared to Rs 2.03 in FY24. Furlenco’s current assets stood at Rs 106 crore, including cash and bank balances of Rs 32 crore in FY25. According to startup data intelligence platform TheKredible, Furlenco has raised a total of $298 m in funding till date, with Sheela Foam and Lightbox Ventures as its lead investors. The company’s founder and chief executive, Ajith Mohan Karimpana owns 12% of the company. Furlenco certainly seems to have discovered a better playbook for its business, because numbers like these looked unlikely till last year. While the concept has certainly found takers, operating costs had been too high to offer hope of such a turnaround. So credit to the team for having pulled it off.

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25

EntrackrEntrackr · 8m ago
Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25
Medial

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25 Gaming and sports media firm Nazara Technologies reported a 95% year-on-year rise in operating revenue for Q4 FY25. However, the Mumbai-based company’s profit remained modest at Rs 4 crore in the final quarter of the previous fiscal year. Nazara’s operating revenue rose by 95.3% to Rs 520 crore in Q4 FY25 from Rs 266 crore in Q4 FY24, according to its audited consolidated financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 41.5% (Rs 216 crore) of the company’s total operating revenue, while the gaming segment held a 30% share (Rs 156 crore), followed by ad tech, which contributed 28% (Rs 148 crore). Nazara also earned Rs 18 crore from interest and gains on financial assets during the quarter, bringing its overall revenue to Rs 539 crore. However, the company posted a 40.8% YoY increase in its total income to Rs 1,715 crore in FY25, compared to Rs 1,218 crore in FY24. On the line of scale, Nazara’s total expenses surged by 85.3% to Rs 528 crore in Q4 FY25, compared to Rs 285 crore in the same quarter last year. Content and commission costs together stood at Rs 186 crore, while employee benefit expenses rose to Rs 80 crore. Notably, marketing expenses saw a sharp 3.5X jump, reaching Rs 151 crore in Q4 FY25. Despite a 95% year-on-year revenue growth in Q4, the company’s profit remained flat at Rs 4 crore in Q4 FY25. For the full fiscal year, its net profit declined to Rs 51 crore in FY25 from Rs 74.7 crore in FY24. Last week, the Competition Commission of India (CCI) also approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. Nazara is currently trading at Rs 1,270 (as of 03.41 PM) with a total market capitalization of Rs 11,127 crore (approximately $1.3 billion).

TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25

EntrackrEntrackr · 8m ago
TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25
Medial

Business-focused travel distribution platform Travel Boutique Online (TBO) has recorded a 21% year-on-year increase in its revenue while its profits grew 28.3% during the fourth quarter of the last fiscal year (FY25). TBO’s operating revenue increased to Rs 446 crore in Q4 FY25 from Rs 369 crore in Q3 FY24, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. Income from the booking of hotels and packages accounted for 80% of TBO’s revenue, which increased to Rs 357 crore in Q4 FY25. Meanwhile, income from air ticketing and other allied services brought Rs 79 crore and Rs 10 crore to the firm’s coffers. Hotels and packages, as the top revenue source, made service fees the largest cost center, accounting for 33.75% of total expenditure or Rs 135 crore in Q4 FY25. Employee benefits were Rs 99 crore in the same quarter. Overall, total costs rose to Rs 400 crore in Q4 FY25 from Rs 325 crore in Q4 FY24. The decent surge in scale and controlled expenditure led TBO to post a 28.3% YOY increase in its profits after tax to Rs 59 crore in Q4 FY25 from Rs 46 crore in Q4 FY24. However, for the full fiscal year, it posted a 15% YoY increase in PAT to Rs 230 crore in the previous fiscal (FY25). At the end of today’s (Thursday, May 22) trading session, TBO Tek saw around a 3% decrease in its stock, which stood at Rs 1,197 with a total market capitalization of Rs 13,005 crore or ($1.53 billion).

PhysicsWallah in talks to acquire Sarrthi IAS

EntrackrEntrackr · 9m ago
PhysicsWallah in talks to acquire Sarrthi IAS
Medial

Edtech unicorn PhysicsWallah is in final-stage talks to acquire Sarrthi IAS, an online platform that provides mentorship-focused courses for UPSC preparation. Sources indicate that the deal is likely in the range of Rs 120–130 crore, with Sarrthi having closed FY25 with Rs 35 crore in revenue and around Rs 20 crore in profits. The discussions follow PhysicsWallah's negotiations to acquire Drishti IAS for Rs 2,500–3,000 crore and align with the company's strategy to expand in the UPSC preparatory space. Sarrthi has been exploring consolidation with a larger player and has engaged in talks with other edtech firms. While sources suggest advanced discussions, Sarrthi's founder, Varun Jain, denies the ongoing talks. PhysicsWallah is reportedly preparing for an IPO, aiming to raise $500 million at a $5 billion valuation, and has seen substantial growth, reporting Rs 1,940.4 crore revenue in FY24.

TBO Tek posts Rs 511 Cr revenue in Q1 FY26 with flat profits

EntrackrEntrackr · 6m ago
TBO Tek posts Rs 511 Cr revenue in Q1 FY26 with flat profits
Medial

TBO Tek has announced its quarterly results, recording a 22% year-on-year increase in its revenue while its profits remained flat during the first quarter of the ongoing fiscal year Q1 FY26. TBO’s operating revenue increased by 22% to Rs 511 crore in Q1 FY26 from Rs 418 crore in Q1 FY25, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. Income from booking of hotels and packages accounted for 83% of TBO’s revenue which increased 32% year-on-year to Rs 423 crore in Q1 FY26 from Rs 321 crore in Q1 FY25. Meanwhile, income from air ticketing and other allied services brought Rs 78 crore and Rs 10 crore to the firm’s topline. Since hotels and packages were the largest revenue source, the service fees associated with them naturally became the biggest cost center, accounting for 39% of the total expenditure, which amounted to Rs 178 crore in Q1 FY26. Its employee benefits stood at Rs 103 crore in the last quarter. Overall, the total cost was up by 27% to Rs 456 crore in Q1 FY26 from Rs 358 crore in Q1 FY25. TBO Tek posted a marginal 3% increase in its profits to Rs 63 crore in Q1 FY26 from Rs 61 crore in Q1 FY25.

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25

EntrackrEntrackr · 4m ago
Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25
Medial

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25 Auxilo’s revenue from operations grew 48.3% to Rs 528 crore in FY25, up from Rs 356 crore in FY24, as per its annual financial statements sourced from the Registrar of Companies. After doubling its revenue in FY24, education-focused non-banking financial company (NBFC) Auxilo has delivered another strong performance in FY25, going past Rs 500 crore in revenue and posting over Rs 100 crore in profit after tax (PAT). The Mumbai-based NBFC provides education loans to students pursuing higher studies in India and abroad. Its offerings cover the complete cost of education, including tuition fees, pre-visa expenses, travel, and other related costs. Interest income formed the bulk of its business, contributing 90.5% of total operating revenue, which grew 49.4% to Rs 478 crore in FY25. Fees, commissions, and other operating income collectively stood at Rs 50 crore during the year. Including other income of Rs 16 crore, Auxilo’s total revenue reached Rs 544 crore in FY25. On the expenditure side, interest costs accounted for 71.5% of total expenses, rising in line with disbursements to Rs 282 crore in FY25. Employee benefits were recorded at Rs 56 crore, while overall costs increased to Rs 394 crore in FY25, compared to Rs 275 crore in FY24. The company’s controlled cost structure supported profitability, leading to a 62.3% jump in PAT to Rs 112 crore in FY25, against Rs 69 crore in FY24. Auxilo’s expense-to-revenue ratio also improved to 0.75 in FY25. Earlier this year, Auxilo raised Rs 50 crore from Motilal Oswal. Since its inception, it has secured over $100 million across equity and debt. The company competes with other well-funded education-financing players such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz.

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