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 cr in FY22, owing to a rise in its expenses, as per a report.
PhysicsWallah’s operating revenue increased 234 per cent to Rs 779.3 cr in FY23 from Rs 233 crore in FY22. Its total revenue stood at Rs 804.6 cr in FY23, a 243 per cent increase from Rs 234.6 cr in FY22.