Physicswallah Q2 FY27 Results: Consolidated Net Profit ₹142 Crore on Total Income of ₹1,335 Crore
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Reviewed byKeshav SehgalBlacklitt Research
Physicswallah reported total income of ₹1,334.64 crore and a net profit of ₹142.29 crore on a consolidated basis for the quarter ended 30 Sep 2026. On a standalone basis, total income was ₹1,199.35 crore and net profit was ₹108.17 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,334.64 crore, up 21.5% YoY and 15.1% QoQ
- Net profit and EPS: ₹142.29 crore, up 104.1% YoY; basic EPS ₹0.49
- Exceptional item: ₹20.11 crore impairment of goodwill; profit before tax ₹209.15 crore
- Finance costs: ₹26.02 crore, up 5.1% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,199.35 crore, up 26.7% YoY and 15.8% QoQ
- Net profit and EPS: ₹108.17 crore, up 21.4% YoY; basic EPS ₹0.37
- Exceptional item: ₹54.92 crore impairment loss on investment in subsidiaries
- Advertisement and publicity: ₹76.94 crore, against ₹113.45 crore in the quarter ended 30 Jun 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,334.64 | 1,098.41 | +21.5% | 1,159.20 | +15.1% | |
| Revenue from operations | 1,242.26 | 1,051.24 | +18.2% | 1,050.34 | +18.3% |
| Other income | 92.38 | 47.17 | +95.8% | 108.86 | -15.1% |
| 142.29 | 69.72 | +104.1% | -87.04 | n/a | |
| Profit before tax | 209.15 | 98.87 | +111.5% | -83.08 | n/a |
| Finance costs | 26.02 | 24.76 | +5.1% | 25.50 | +2.0% |
| Depreciation | 113.03 | 104.69 | +8.0% | 110.67 | +2.1% |
| Tax expense | 66.86 | 29.15 | +129.4% | 3.96 | n/a |
| Net profit margin | 10.66% | 6.35% | +4.31 pp | -7.51% | +18.17 pp |
| EPS, basic (₹) | 0.49 | 0.28 | +75.0% | -0.26 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Other income was ₹92.38 crore in the quarter, against profit before tax of ₹209.15 crore. The segment note gives online revenue of ₹693.52 crore, offline revenue of ₹540.87 crore and ₹7.87 crore under Others, out of revenue from operations of ₹1,242.26 crore.
The results include a profit of ₹1.34 crore from discontinued operations, the lending business of FinZ, against a loss of ₹1.24 crore in the quarter ended 30 Jun 2026. Profit for the quarter including discontinued operations was ₹143.63 crore, of which ₹145.57 crore is attributable to owners of the parent and a loss of ₹1.94 crore to non-controlling interests.
Profit before tax of ₹209.15 crore is after an exceptional item of ₹20.11 crore, an impairment of goodwill. Before exceptional items and tax, profit from continuing operations was ₹229.26 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,199.35 | 946.62 | +26.7% | 1,035.31 | +15.8% | |
| Revenue from operations | 1,105.96 | 895.85 | +23.5% | 927.72 | +19.2% |
| Other income | 93.39 | 50.77 | +83.9% | 107.59 | -13.2% |
| 108.17 | 89.11 | +21.4% | -26.34 | n/a | |
| Profit before tax | 172.97 | 118.36 | +46.1% | -22.88 | n/a |
| Finance costs | 23.09 | 22.71 | +1.7% | 22.89 | +0.9% |
| Depreciation | 88.57 | 81.34 | +8.9% | 84.55 | +4.8% |
| Tax expense | 64.80 | 29.25 | +121.5% | 3.46 | n/a |
| Net profit margin | 9.02% | 9.41% | -0.39 pp | -2.54% | +11.56 pp |
| EPS, basic (₹) | 0.37 | 0.34 | +8.8% | -0.09 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit before tax of ₹172.97 crore is after an exceptional item of ₹54.92 crore, an impairment loss on investment in subsidiaries. Before exceptional items, profit before tax was ₹227.89 crore, and other income was ₹93.39 crore.
Other income of ₹93.39 crore compares with ₹107.59 crore in the quarter ended 30 Jun 2026 and ₹50.77 crore in the quarter ended 30 Sep 2025. Revenue from operations was ₹1,105.96 crore.
Advertisement and publicity expenses, an item exceeding 10% of total expenditure, were ₹76.94 crore in the quarter ended 30 Sep 2026, against ₹113.45 crore in the quarter ended 30 Jun 2026 and ₹72.64 crore in the quarter ended 30 Sep 2025.
Inference
The filing says ₹1,765.46 crore of net IPO proceeds was unutilised as at 30 Sep 2026 and was temporarily invested in fixed deposits with scheduled commercial banks and maintained in the Monitoring Account. It also says ₹71.74 crore of the current quarter's utilisation under general corporate purpose, for acquisition of additional stake in an existing subsidiary, was outside the objects of the issue and was deposited back to the Monitoring Account on 30 Oct 2026.
FinZ transferred its loan portfolio to Auxilo Finserve Private Limited on 3 Oct 2026 for ₹95.79 crore; the portfolio was classified as held for sale at a carrying amount of ₹95.34 crore as at 30 Sep 2026. During the six months ended 30 Sep 2026, the company invested ₹120.00 crore in equity shares of Finz Finance Private Limited and ₹3.00 crore in Preponline Futurist Private Limited.
The board approved the results on 4 Nov 2026, and the review report by S.R. Batliboi & Associates LLP says it does not express an audit opinion. The reasons for the two impairments, of ₹54.92 crore standalone and ₹20.11 crore consolidated, are not known from the filing text.
Filed with BSE on . Reference: Original filing (PDF)
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