PhysicsWallah has received an income tax demand notice of ₹263.34 crore for the assessment year 2023-24.
PhysicsWallah said. PhysicsWallah posted about a 33 per cent increase in consolidated profit to ₹102.27 crore in the December quarter.
The company plans to challenge the assessment order.
“Based on its preliminary assessment, the company believes that it has strong legal and factual grounds to file an appeal before the appropriate appellate authority,
Its revenue from operations also grew about 33 per cent to ₹1,082.41 crore during the quarter from ₹809.67 crore a year earlier.
Shares of PhysicsWallah settled 7.87 per cent higher at ₹86.81 crore on the BSE on Wednesday. The statutory filing was made post-market hours.