Edtech firm PhysicsWallah (PW) on Thursday reported about 33% year-on-year growth in both its top and bottom lines. It posted operating revenue of Rs 1,082.4 crore in Q3 FY26 and a profit after tax of Rs 102.3 crore, driven by an expanding paid user base and strong operating margins.The paid user base of the Alakh Pandey-led firm expanded to 4.37 million in the nine months to date, with online transacting users at 3.96 million and offline enrolments at 0.41 million.The quarter also benefited from operating leverage as EBITDA (earnings before interest, taxes, depreciation, and amortisation) climbed to Rs 351.2 crore, yielding a roughly 32% margin, which helped lift the company into profit. EBITDA is a measure of a company’s profitability of the operating business.PW’s revenue from operations for the first nine months of FY26 stood at Rs 2,980.7 crore, about a 31% year-on-year increase, while adjusted EBITDA for the period reached Rs 647.4 crore, a nearly 22% margin. Operating cash flow for the nine months was Rs 642.9 crore, up from the previous full year, reflecting stronger cash generation as the business scaled. The company holds a large treasury balance of approximately Rs 5,054.4 crore, which includes net IPO proceeds of…  ​Read More​YourStory RSS Feed

Addressing a long-standing demand of the homegrown startup ecosystem, the Centre has notified a revised definition of startups, which relaxes the framework for deeptech entities to be recognised as a startup. As part of its efforts to support long-gestation, R&D-intensive ventures, the central government said that deeptech startups will now qualify for recognition and benefits for up to 20 years. The centre also increased the turnover threshold to ₹300 Cr from ₹200 Cr currently. To qualify under the new regime, the startups must work towards innovation, product or process improvement, or operate a scalable business model with high potential for employment or wealth creation. The startups will be eligible to apply for tax benefits under Section 80-IAC of the Income-tax Act, subject to certification by an inter-ministerial board comprising representatives from DPIIT, the Department of Biotechnology and the Department of Science and Technology. Deeptech startups have been defined as entities working on scientific or engineering-led innovation, with high research and development expenditure, significant intellectual property (IP) creation. This is the first time that the Union government has defined the deeptech ecosystem. The notification also tightens compliance norms. Recognised startups must primarily deploy funds towards core business activities such as innovation,…  ​Read MoreInc42 Media

Union minister Amit Shah unveiled India’s first government-backed ride hailing platform ‘Bharat Taxi’, built on the ethos of shared ownership. During the launch event in Delhi NCR today, Shah said that the platform’s main goal is to empower the cab drivers. “There is going to be no commission for the drivers. Whatever fare will be shown on the app, the entire amount will be given to the driver,” he added. Shah added that this launch fuels the ambition of welfare for “Sarthis” (driver) community with a vision to expand from “Kashmir to Kanyakumari and from Dwarka to Kamakhya, across the entire country” within three years.  A month ago, Shah said that the new app will look to “free the country’s commercial vehicle drivers from (their) dependency on private companies”. Additionally, he also noted that the new service will enable drivers to keep full earnings from each ride.  Operated by Sahkar Taxi Cooperative Limited, Bharat Taxi will work under a cooperative model, making drivers the co-owners. To participate, the drivers will be required to buy a minimum of 5 shares (worth ₹500 total), earning stakeholder perks like dividends, health insurance, and pensions. The model will work across two-wheeler, three-wheeler, and four-wheeler…  ​Read MoreInc42 Media