Physicswallah falls 4% after Q3 results; 20% down from IPO listing price

Physicswallah share price today: Shares of edtech major Physicswallah fell around 4 per cent to hit an intraday low of ₹116.61 on the National Stock Exchange (NSE) after the company reported its quarterly earnings for the October to December quarter of fiscal 2026 (Q3FY26). 

 

Around 01:30 PM, Physicswallah's share price was trading 3.33 per cent lower at ₹117.51 compared to the previous session's close of ₹121.56 on the NSE. In comparison, the NSE Nifty50 was down 0.32 per cent at 25,560 levels. The market capitalisation of the company stood at ₹33,632 crore. The recently listed stock has slipped around 28 per cent from its all-time high of ₹161.99 touched on its listing day, November 18, 2025.

 

Physicswallah Q3 results highlights

In the Q3FY26, Physicswallah had reported a 33 per cent year-on-year (Y-o-Y) increase in its net profit to 102.3 crore compared to ₹76.7 crore in the year-ago period. In the previous quarter (Q2FY26), the company had posted a profit of ₹69. crore, according to regulatory filings. 

 

The company posted a revenue from operations of ₹1,082.4 crore, up 34 per cent Y-o-Y from ₹809.7 crore in the December 2024 quarter. It has reported a revenue of ₹1,051.2 crore in the previous quarter. 

 

Physicswallah's total expenses increased by 33 per cent to ₹979.9 crore in Q3FY26 compared to ₹738.3 crore in the year-ago period. 

 

"The company’s online business continued to gain strong traction, registering over 3.96 million enrollments in 9M FY26, a 20 per cent increase compared to 9M FY25. Offline enrollments grew by 36 per cent Y-o-Y in 9M FY26, through PW’s nationwide network of 318 centres as of December 31, 2025," the company said in its filings.

 

According to the company, the growth has been driven by an expanding user base and supported by a diversified portfolio, including AI-powered products, value-added services, crash courses, and offline batches across segments such as Civil Services Examinations, Other Government Exams, Chartered Accountancy, etc.

 

Additionally, the company also announced an investment of ₹1.5 crore to acquire a 50 per cent stake in health and wellness company Kay Wellness. The purpose of the investment is to support corporate requirements and undertake certain strategic initiatives. 

 

The edtech major also approved the incorporation of a new subsidiary called Physicswallah Student Housing to provide hostel facilities to students enrolled with the PW Group across applicable cities.