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Edtech firm PhysicsWallah said on Monday it will hire 2,500 employees in the first quarter of 2023 and work with Unicommerce, a supply chain solutions provider, to improve delivery of its courses.
PhysicsWallah, which employs more than 6,500 people, will hire teachers, business and data analysts, counsellors, and operations managers.
“At this growth juncture, hiring more professionals across roles was the next natural progression for us. Above all, we are looking for people who are passionate and aligned with our vision to provide affordable and quality education to all and become lifelong learning partners for students,” said Satish Khengre, human resources head of PhysicsWallah.
The company is hiring at a time when large Indian start-ups, especially in edtech, are laying off employees. According to reports, edtech firm LEAD laid off around 100 employees earlier this month. Edtech major Vedantu cut a similar number of employees at the time. Unacademy-owned Relevel dropped 40 employees. Before that, upGrad-owned edtech start-up Harappa let go of 30 per cent of its workforce.
SoftBank-backed edtech major Unacademy said in November it was laying off 350 people or 10 per cent of its 3,500 workforce. In October, edtech leader Byju’s laid off nearly 2,500 people, or 5 per cent of its workforce of 50,000, as part of an “optimization” plans amid steep losses.
PhysicsWallah said the partnership with Unicommerce will streamline delivery of its study material. The edtech unicorn has integrated Unicommerce’s order management and warehouse management platform in a bid to strengthen its supply chain operations.
“Partnering with Unicommerce will help us move many steps ahead as their tech-based solutions will improve the overall processes leading to faster delivery of the study material and offering a great learning platform for students. Time and affordability are the most important factors in education and we see this collaboration as a major step towards our mission.” said Alakh Pandey, founder and CEO, PhysicsWallah.
PhysicsWallah reported a fourteen-fold increase in net profit in FY22 at Rs 97.8 crore. This was up from Rs 6.93 crore in the previous financial year. The firm reported its standalone operating revenues for Financial Year 2021-22 as Rs 234.09 crore, a nine-fold rise from Rs 24.62 crore in FY21.
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