Paytm (One 97 Communications Limited) – Q2 FY26 Results Summary
Announcement Date: November 4, 2025
Key Financial Metrics (INR crores):
| Metric | Q2 FY26 | Q1 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | FY25 |
|---|---|---|---|---|---|---|
| Consolidated Revenue | 2,061 | 1,918 | 1,659 | 3,979 | 3,161 | 6,900 |
| Consolidated Net Profit | 21 | 123 | 930 | 144 | 90 | (663) |
| Consolidated EPS (Basic) | (4.13) | 0.99 | 12.91 | - | - | - |
| Standalone Revenue | 1,681 | 1,586 | 1,265 | 3,267 | 2,414 | 5,505 |
| Standalone Net Loss | (264) | 63 | 821 | (201) | (3) | (789) |
| Standalone EPS (Basic) | (4.13) | 0.99 | 12.91 | (3.15) | (0.05) | (12.39) |
| Consolidated Exceptional Items | (190) | (17) | 1,345 | (207) | 1,345 | 823 |
| Standalone Exceptional Items | (395) | (43) | 1,258 | (438) | 1,258 | 728 |
| Capex (Standalone, H1 FY26) | 192 | - | 81 | - | - | - |
| Capex (Consolidated, H1 FY26) | 202 | - | 92 | - | - | - |
Financial Highlights:
- Consolidated revenue increased 24% YoY to INR 2,061 crores in Q2 FY26 and 7.5% QoQ.
- Consolidated profit before exceptional items improved to INR 221 crores in Q2 FY26 from a loss of INR 411 crores in Q2 FY25.
- Net profit declined to INR 21 crores in Q2 FY26 from INR 930 crores in Q2 FY25, reflecting prior year’s large exceptional gain.
- Standalone operations reported a net loss of INR 264 crores in Q2 FY26, impacted by impairment charges and exceptional items.
- Significant reduction in share-based payment expenses in FY26 compared to FY25.
- Capital expenditure increased notably in H1 FY26 versus prior year.
Balance Sheet and Cash:
- Consolidated equity stood at INR 15,310 crores; total assets at INR 22,537 crores as of September 30, 2025.
- INR 2,000 crores of IPO proceeds remain unutilized, held in fixed deposits and monitored accounts.
Management Commentary & Key Developments:
- Auditor issued an unmodified limited review report; no qualifications.
- Management disclosed a Show Cause Notice from Directorate of Enforcement alleging FEMA violations related to investments (~INR 611 crores); provisions recorded for estimated compounding fees.
- Paytm Payments Services Limited received RBI in-principle approval for Payment Aggregator license; final certificate pending post system audit.
- Exceptional impairments of INR ~190 crores related to online gaming JV due to regulatory prohibition.
- Approved INR 2,250 crores additional investment in Paytm Payments Services Limited via rights issue to strengthen net worth and support business expansion.
- Transfer of Offline Payments Business to Paytm Payments Services Limited approved to comply with RBI guidelines.
- ESOP cancellations in prior year reduced share-based payment expenses in FY26.
Segment Performance:
- Company operates as a single segment encompassing payment services, financial services distribution, and marketing services; no segmental financials disclosed.
Outlook:
- No explicit forward guidance provided in the announcement.
- Management continues focus on strengthening payments business, regulatory compliance, and strategic investments.
This summary encapsulates Paytm’s Q2 FY26 financial results, regulatory context, and strategic initiatives as disclosed on November 4, 2025.