Edtech unicorn PhysicsWallah (PW) reported its standalone working revenues for the monetary yr 2021-22 as Rs 232.48 crore, a nine-fold rise from Rs 24.59 crore in FY21. The agency reported a internet revenue of Rs 97.8 crore, a surge of 14 occasions from Rs 6.93 crore within the earlier monetary yr, in keeping with knowledge accessed by enterprise intelligence platform, Tofler.
PW’s standalone bills have been Rs 103.17 crore, a six-fold enhance from Rs 15.36 crore within the earlier monetary yr. In FY22, PW’s staff’ profit bills have been Rs 42.18 crore, reporting over 20 occasions rise towards Rs 2.01 crore within the earlier fiscal.
The corporate has reported a revenue at a time when high tech unicorns particularly edtech corporations are witnessing steep losses and are laying-off staff in an try to preserve money amid a funding winter.
PW this yr turned India’s a hundred and first unicorn by elevating $100 million in Collection A funding from WestBridge Capital and GSV Ventures. The corporate was valued at $1.1 billion after closing the transaction. PW is utilizing these funds for enterprise growth, branding and opening extra PW studying centres.
The platform has already made provisions for launching programs in 9 vernacular languages, together with Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada. This step will assist PW attain each nook of the nation and join with over 250 million college students by 2025.
PW can also be organising offline centres. Such amenities are designed to help engineering and medical aspirants, offering them with a aggressive and pleasant studying setting with a 24/7 doubt-clearing facility.
PW additionally acquired corporations this yr. In October, it acquired take a look at preparation edtech firm PrepOnline and e book writer Altis Vortex for an undisclosed quantity in a mixture of money and inventory deal. With the acquisition of PrepOnline, PW forayed into the web aggressive examination preparation phase and the acquisition of Altis Vortex marked its entry into the e book publishing area. In August, PW acquired FreeCo, a Jaipur-based doubt solver and useful resource administration agency.