/
•
•
Revenue rises as the startup preps for India’s first edtech listing on public markets

Co-founders Alakh Pandey and Prateek Maheshwari made Physics Wallah the company it is today by keeping their focus on the digital media, test-prep business. With fresh funds at its disposal after the IPO, it is making the mistake of believing it is an education company.
In the last two years, foreign education plans have been dealt a body blow by changes in regulation, a rise in fraudulent activities and misaligned incentives for brokers, students and foreign universities. Indian students are among the worst hit.
Profit or loss is a definitive number because it can be traced back to a company’s books of accounts, audited by a certified auditor. Any number that doesn’t have this stamp of sanctity is a baseless claim.