PhysicsWallah’s losses widen in FY24 as rising expenses overshadow 2.6X revenue growth

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PhysicsWallah’s losses widen in FY24 as rising expenses overshadow 2.6X revenue growth - YourStory

Quick Summary:

The Noida-based company also revised its FY 2022-23 figures, now reporting a loss of Rs 84.1 crore, in contrast to the Rs 8.9 crore profit previously stated in its earlier consolidated financial statements.

While the profitability metric for FY25 cannot be determined due to the transition from I-GAAP to Ind-AS, this fiscal year is expected to be the highest in absolute EBITDA profitability since inception, according to Maheshwari.

Its other expenses surged by 442.4% YoY to Rs 1,660 crore, including a significant increase in miscellaneous expenses, which rose by 755.9% to Rs 1,452.7 crore.