Paytm Q2 Profit Rises 10.7 Times to Rs 225 Crore
Paytm's revenue from operations rose about 28% year on year to about Rs 2,648 crore in the September 2026 quarter.
Key Takeaways
- Paytm's profit was about Rs 225 crore in Q2 FY27, about 10.7 times the about Rs 21 crore in Q2 FY26.
- Revenue from operations was about Rs 2,648 crore, up about 28% year on year and about 8% on Q1 FY27.
- EBITDA was about Rs 270 crore, up about 90% year on year.
- Payment services earned about Rs 1,434 crore and financial services distribution about Rs 912 crore.
- The figures are unaudited, announced on 26 October 2026.
Paytm, run by One 97 Communications, reported a profit of about Rs 225 crore for the July to September 2026 quarter (Q2 FY27), against about Rs 21 crore a year earlier. That is about 10.7 times the profit of Q2 FY26. The results were announced on 26 October 2026 and are unaudited.
Revenue from operations rose about 28% year on year to about Rs 2,648 crore from about Rs 2,061 crore. Against the June 2026 quarter (Q1 FY27), when it was about Rs 2,448 crore, it rose about 8%.
Paytm Q2 FY27 at a glance
| Detail | Value |
|---|---|
| Quarter | Q2 FY27, July to September 2026 (unaudited) |
| Revenue from operations | About Rs 2,648 crore, up about 28% year on year and about 8% on Q1 FY27 |
| Other income | About Rs 182 crore |
| Total income | About Rs 2,830 crore |
| EBITDA | About Rs 270 crore, up about 90% year on year and about 33% on Q1 FY27 |
| Profit for the quarter | About Rs 225 crore, against about Rs 21 crore in Q2 FY26 (about 10.7 times) and about Rs 220 crore in Q1 FY27 |
| Profit before exceptional items | About Rs 229 crore |
| Exceptional items | A charge of about Rs 4 crore, against about Rs 190 crore in Q2 FY26 |
| Merchant GMV | About Rs 7.1 lakh crore, up about 26% year on year |
| Monthly transacting users | About 8.5 crore on average |
Where Paytm's Rs 2,648 crore of revenue came from
Paytm earns from payment services, distributing financial services such as loans, and marketing services. Payment services brought in about Rs 1,434 crore, up about 25% year on year. Distribution of financial services brought in about Rs 912 crore, up about 49%. Marketing services brought in about Rs 287 crore, up about 26%.
The reported profit also reflects the base: Q2 FY26 included an exceptional charge of about Rs 190 crore, against about Rs 4 crore this quarter.
| Quarter | Revenue from operations | Profit |
|---|---|---|
| Q2 FY26 (July to September 2025) | About Rs 2,061 crore | About Rs 21 crore |
| Q1 FY27 (April to June 2026) | About Rs 2,448 crore | About Rs 220 crore |
| Q2 FY27 (July to September 2026) | About Rs 2,648 crore | About Rs 225 crore |
How Paytm's incentive income changed the year-on-year comparison
Paytm received incentives under the Payments Infrastructure Development Fund (PIDF) of about Rs 74 crore in Q2 FY26 and about Rs 12 crore in Q2 FY27. Leaving these out, Paytm said revenue rose about 33% year on year, from about Rs 1,987 crore to about Rs 2,636 crore.
What Paytm said about the next quarter and UPI charges
In its earnings release, Paytm said it expects its contribution margin to fall in Q3 FY27 because of higher default loss guarantee costs and seasonal effects, while it expects EBITDA to keep improving.
On the merchant discount rate (MDR) on UPI, Paytm said that, on the proposed 0.4% cap for select payments above Rs 2,000 and its current mix of payments, it expects an indicative uplift of about 2.5 basis points in its overall payment processing margin.
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