PWL Physicswallah Q3 FY26 results (Oct–Dec 2025) and concall
PWL delivered a strong Q3 FY26 performance characterized by robust 34% revenue growth and healthy EBITDA margins of 20.2%. The company is successfully transitioning from a pure test-prep player to a diversified education giant, with significant investments in K-12, AI, and vernacular languages. While core JEE/NEET growth in North India is maturing at 3-4%, the company is finding aggressive growth in southern markets and new categories like UPSC, which grew over 100%.
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What they filed
Q3 FY26: revenue up 33.6%, net profit up 32.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 832 | 810 | 610 | 847 | 1,051 +26% | 1,082 +34% |
| EBITDA | 134 | 184 | -229 | -76 | 181 +35% | 236 +28% |
| Net profit | 41 | 77 | -289 | -127 | 70 +71% | 102 +32% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
