NEW DELHI: Drishti IAS, on Wednesday, announced its audited financial results for FY 2024–25, posting operating revenues of Rs 364 crore compared with Rs 405 crore in the previous year. EBITDA declined to Rs 77 crore from Rs 127 crore, while profit after tax fell to Rs 61 crore from Rs 90 crore year-on-year.

The organisation said the decline should be seen in the context of Ind AS–based accounting adjustments and a broader sectoral normalisation following the post-COVID surge in offline enrolments. With the market currently in a correction phase, Drishti IAS expects profitability to remain under pressure in FY 2025–26.

The unusually high surge in classroom admissions immediately after COVID-19 has now stabilised nationwide, with student numbers returning to pre-COVID levels. This readjustment has affected every coaching institute across Delhi and other hubs. Additionally, in FY25, Drishti relocated its primary branch from Mukherjee Nagar — Delhi’s largest hub for UPSC coaching — to a fully compliant facility in Noida. The shift resulted in a revenue loss of over Rs 30 crore.

Established in 1999 by Vikas Divyakirti, Drishti IAS specialises in UPSC and PCS exam preparation and runs eight centres across Delhi, Noida, Prayagraj, Lucknow, Jaipur, Indore, Ranchi and Patna.

The company is in expansion mode in both offline and online segments. Vivek Tiwari, CEO, said in a statement, “For offline segment, we have opened two new centres recently —Ranchi and Patna— in FY26. In online segment, we have recently launched studio-based programmes with lower fee points. We have also successfully entered new verticals like Judiciary, Teaching Exams, and SSC, and we are now planning to enter Banking, Defence and School education in the coming year.”

The IPO-bound company appointed Suresh Surana & Associates LLP (RSM India), as its statutory auditor, with the FY25 financial statements audited by RSM. Company also appointed Vipan Joshi as its Chief Financial Officer. Joshi brings extensive experience from the education sector, having previously served as the CFO at Aakash Institute before joining Drishti.

Joshi said in a statement, “Company’s fundamentals are strong and should stabilize by the end of next financial year. My immediate priorities include implementing an ERP system, deploying a BI tool, and strengthening controls and compliance processes ahead of the company’s market debut.”

Originally a brick-and-mortar coaching institute, Drishti IAS launched its online arm during COVID in FY21. During FY2025, almost 1/3 of the company’s revenue came from online operations and 2/3 from offline centres, with expectations of a shift toward 50–50 ratio with in next two years.

Abhishek Baru, CTO, said in a statement, “We are building AI-driven solutions that recreate the richness of a physical classroom, giving every student the same personalised, interactive learning experience—anytime, anywhere.”

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