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One97 Communications (PAYTM) investor relations material
One97 Communications Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary5 Nov, 2025
Executive summary
AI integration is central to product and service innovation, driving efficiency, cost optimization, and new revenue streams for merchants and consumers.
Merchant ecosystem expansion and aggressive hiring continue to fuel growth, with onboarding of both offline and online merchants.
Postpaid (BNPL) product relaunch is showing early traction, with scalable growth targeted through bank partnerships.
International expansion is planned via partner-operated and self-operated models, leveraging technology in emerging and developed markets.
Approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, and appointed a new independent director.
Financial highlights
Revenue grew 24% YoY to $232 million (INR 2,061 crores consolidated for Q2 FY26), with EBITDA improving to $16 million (7% margin) and a second consecutive quarter of profit after tax.
Contribution profit rose 35% YoY to $136 million, with a margin of 59%.
Merchant lending, wealth (gold, mutual funds, stock trading), and device segments are showing strong growth, with gold products exceeding internal targets.
Marketing services revenue declined 25% YoY due to product optimization and the sale of the entertainment ticketing business.
Net cash outflow from operating activities for H1 FY26 was INR 468 crores (consolidated), compared to an inflow of INR 78 crores in H1 FY25.
Outlook and guidance
Continued margin improvement and market share gains are expected, especially in merchant payments and credit card on UPI.
AI investments will drive efficiency and new revenue, with a focus on monetizing AI-led products for merchants of all sizes.
Postpaid product ramp-up will be gradual and sustainable, focusing on credit quality and learnings from previous cycles.
International expansion is expected to be low-capital, with meaningful revenue contribution in 2–3 years.
Additional investment in PPSL aims to fund working capital, acquisition of offline merchant payment business, and maintain leadership in merchant payments.
PPSL investment: How will it boost market share?
FEMA SCN: What is the remaining financial exposure?
Online Gaming Act: Impact on FGTPL's business model?
Detail AI's new revenue streams and products
Outline global expansion models and target markets
Factors sustaining payment processing margin growth
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Next One97 Communications earnings date
Q3 202614 Feb, 2026
Next One97 Communications earnings date
Q3 202614 Feb, 2026
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Frequently asked questions
One97 Communications Limited operates Paytm, a digital payments and financial services platform offering mobile wallets, banking, lending, insurance, and e-commerce services to consumers and businesses. The company is headquartered in Noida, India, and its shares are listed on the NSE.
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