Physics Wallah’s revenue up 3.4x to Rs 798 crore in FY23
The employee costs grew to Rs 406 crore (including ESOP benefits, which was zero in FY22) from Rs 42 crore last year.
Alakh Pandey, Founder and CEO PhysicsWallah (Photo: @PhysicswallahAP)
NEW DELHI: Edtech platform Physics Wallah (PW) on Friday reported a total revenue of Rs 798 crore in FY23, up 3.4 times from the previous financial year. PW’s total expenses grew to Rs 777 crore in FY23 from Rs 103 crore a year earlier.
The employee costs grew to Rs 406 crore (including ESOP benefits, which was zero in FY22) from Rs 42 crore last year.
PW’s revenue from operations increased toRs 771.76 crore during the fiscal year ending March 2023, compared to Rs 232.47 crore during the previous fiscal year and Rs 24.6 crore in FY21.
PW’s cash reserves improved significantly to almost Rs 750 crore (as of March 31, 2023). Total student enrolment touched 24 lakh for the financial year 2023, the company said in a statement.