PhysicsWallah's profit nosedives 91% to Rs 9 cr

New Delhi: Edtech unicorn PhysicsWallah (PW) registered a massive 91 per cent plunge in its profit in the fiscal year that ended March 31, 2023.

The Alakh Pandey-led company saw its net profit nosedive to Rs 8.9 crore in the financial year 2022-23 (FY23) from Rs 98.2 crore in FY22, owing to a rise in its expenses, according to a report in leading startup news portal Inc42.

PhysicsWallah’s operating revenue increased 234 per cent to Rs 779.3 crore in FY23 from Rs 233 crore in FY22.

The startup’s total revenue stood at Rs 804.6 crore in FY23, a 243 per cent increase from Rs 234.6 crore in FY22.