Physicswallah544609Quarterly results
Q2 and H1 FY27 results approved; auditor's review unmodified; subsidiary FinZ exits lending
Board approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,242.26 | 1,051.24 | +18.2% | 1,050.34 | +18.3% |
| Total income | 1,334.64 | 1,098.41 | +21.5% | 1,159.20 | +15.1% |
| Profit before tax | 209.15 | 98.87 | +112% | (83.08) | — |
| Profit after tax | 143.63 | 69.72 | +106% | (88.28) | — |
| Total comprehensive income | 145.66 | 72.36 | +101% | (88.78) | — |
| Basic EPS | 0.49 | 0.28 | +75% | (0.27) | — |
- Total income
- Latest 1,334.64; Year ago 1,098.41 (+21.5%); Prev qtr 1,159.20 (+15.1%)
- Profit after tax
- Latest 143.63; Year ago 69.72 (+106%); Prev qtr (88.28)
- Period
- Quarter ended September 30, 2026
Auditor's review
Conclusion: Unmodified
Notes to the results
- Consolidated exceptional items of INR 20.11 crores for the quarter ended September 30, 2026 (standalone: INR 54.92 crores impairment loss on investment in subsidiaries).
- FinZ Finance Private Limited discontinued its lending business; profit from discontinued operations INR 1.34 crores for the quarter; loan portfolio transferred to Auxilo Finserve on October 3, 2026 for INR 95.79 crores.
- IPO proceeds: INR 71.74 crore used outside the Objects of the Issue was regularised by depositing it back to the Monitoring Account on October 30, 2026; unutilised INR 1,765.46 crore.
Results approved
The Board, on the Audit Committee's recommendation, approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, at its meeting held on November 04, 2026.
Standalone quarter, in the update's own line names
- Revenue from operations: Rs. 1,105.96 crore, against Rs. 895.85 crore in the quarter ended September 30, 2025.
- Profit for the period: Rs. 108.17 crore, against Rs. 89.11 crore in the same quarter a year earlier.
- The quarter and half year carry an exceptional item of Rs. 54.92 crore, described as impairment loss on investment in subsidiaries. It appears on its own line, between profit before exceptional items and tax and profit before tax.
Half year
- Revenue from operations for the six months ended September 30, 2026 was Rs. 2,033.68 crore.
Subsidiary developments disclosed with the results
- FinZ Finance Private Limited, a wholly owned subsidiary, opted to discontinue its lending business and sell its entire standard loan portfolio to an unrelated non-banking financial company, Auxilo Finserve Private Limited, for a consideration of INR 95.79 crores. The portfolio was transferred on October 3, 2026, and FinZ stopped originating new loans from September 20, 2026.
- A new wholly owned subsidiary, Physicswallah Student Housing Private Limited, was incorporated during the six months for providing hostel accommodation to students.
- Money was also put into equity shares of two wholly owned subsidiaries, Finz Finance Private Limited and Preponline Futurist Private Limited, to support business expansion.
IPO proceeds
- Part of the initial public offer money is still unspent: Rs. 1,765.46 crore remained unutilised as at September 30, 2026, temporarily invested in fixed deposits with scheduled commercial banks and maintained in the Monitoring Account.
Auditor's review
- S.R. Batliboi & Associates LLP issued review reports on both the standalone and the consolidated statements. A review is not an audit and gives moderate, not reasonable, assurance.
- The conclusion is unmodified: nothing came to the auditor's attention that causes them to believe the statements have not disclosed information required under the listing regulations or that they contain a material misstatement.
Points to note
- Advertisement and publicity expenses crossed 10% of total expenditure and are shown separately under other expenses.
- The consolidated statement covers the company along with its subsidiaries and an associate, and the auditor's report relies in part on the reports of other auditors for those entities.
What a retail investor can take away
- This is a routine quarterly results update. The headline items are the standalone revenue and profit lines, with a one-off impairment charge on subsidiary investments running through the profit line.
- The FinZ decision means the group is stepping out of the lending activity at that subsidiary, with the loan book sold to another NBFC.
- A meaningful slice of the IPO money is still held in fixed deposits as of the reporting date.
1,242.26 (INR crores)Revenue from operations, latest quarter
Total income, year-ago quarter1,098.41 (INR crores)
Total comprehensive income, latest quarter145.66 (INR crores)
108.17 crore+21.4%
202589.11 crore2026108.17 crore
Also from Physicswallah
Q2 FY27 shareholders' letter: H1 revenue ₹2,293 Cr, profit after tax ₹55 Cr versus last year's loss
4 Nov 2026
Q2 profit doubles to Rs 142 Cr on record revenue of Rs 1,242.26 Cr
4 Nov 2026
NRC approves grant of ~1.85 lakh stock options under ESOP Plan 2025
2 Nov 2026
More numbers
- Revenue from operations, standalone, Q2 (Sep 30, 2026)1,105.96 crore
- Revenue from operations, standalone, Q2 (Sep 30, 2025)895.85 crore
- Profit for the period, standalone, Q2 (Sep 30, 2026)108.17 crore
- Profit for the period, standalone, Q2 (Sep 30, 2025)89.11 crore
- Exceptional items, standalone, quarter and half year54.92 crore
- Revenue from operations, standalone, six months ended Sep 30, 20262,033.68 crore
- FinZ loan portfolio sale consideration to Auxilo FinserveINR 95.79 crores
- Unutilised net IPO proceeds as at September 30, 2026INR 1,765.46 crore
- Total income, latest quarter1,334.64 (INR crores)
- Total income, year-ago quarter1,098.41 (INR crores)
- Total income, previous quarter1,159.20 (INR crores)
- Total comprehensive income, latest quarter145.66 (INR crores)
- Total comprehensive income, year-ago quarter72.36 (INR crores)
- Total comprehensive income, previous quarter(88.78) (INR crores)
- Profit after tax, latest quarter143.63 (INR crores)
- Profit after tax, year-ago quarter69.72 (INR crores)
- Profit after tax, previous quarter(88.28) (INR crores)
- Revenue from operations, latest quarter1,242.26 (INR crores)
- Revenue from operations, year-ago quarter1,051.24 (INR crores)
- Revenue from operations, previous quarter1,050.34 (INR crores)
- Profit before tax, latest quarter209.15 (INR crores)
- Profit before tax, year-ago quarter98.87 (INR crores)
- Profit before tax, previous quarter(83.08) (INR crores)
Source: BSE · 4 Nov 2026
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