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Consequent to aforesaid allotment, the issued, subscribed and paid-up equity share capital of the company stand increased to Rs 63,95,39,256 (consisting of 63,95,39,256 equity shares of face value of Rs 1 each).
As per reports, the revised target implies improving confidence in Paytm’s operating environment and long-term earnings trajectory.
The research house reportedly said the regulatory overhang that dragged the stock through 2024 and 2025 is now 'incrementally easing,” enabling Paytm to regain momentum in its core payments business.
Start of normalisation in the regulatory environment is resulting in early recovery in payments market share; better earnings visibility; relaunch of key products that were previously impacted; and improved clarity on business continuity.
The entity reportedly expects Paytm to deliver over 20 per cent revenue growth, supported by stabilising rules and a more predictable policy backdrop. It reportedly further said that additional gains could emerge from any positive regulatory intervention on payment charges or additional market share wins.
The research house reportedly said that Paytm’s EBITDA margins could more than double over the next three to four years as operating leverage improves and product funnels normalise. It reportedly expects profitability metrics to strengthen significantly as payment flows stabilise.
Paytm is a mobile payments and financial services distribution company.
The company had reported a consolidated net profit of Rs 21 crore in Q2 FY26, which is sharply lower as compared with the PAT figure of Rs 930 crore recorded in Q2 FY25. Revenue from operations during the period under review increased by 24% YoY to Rs 2,061 crore.
Auto, FMCG and PSU Bank shares advanced while metal, media and realty shares declined.
At 09:25 IST, the barometer index, the S&P BSE Sensex, advanced 361.23 points or 0.43% to 83,820.38. The Nifty 50 index added 31.20 points or 0.12% to 25,629.90.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.19% and the S&P BSE Small-Cap index shed 0.14%.
The market breadth was negative. On the BSE, 1,433 shares rose and 1,593 shares fell. A total of 240 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,067.01 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,202.90 crore in the Indian equity market on 04 November 2025, provisional data showed.
Stocks in Spotlight:
Allied Blenders and Distillers declined 2.60%. The company’s consolidated net profit stood jumped 35.21% to Rs 64.31 crore in Q2 FY26 as against Rs 47.56 crore posted in Q2 FY25. Revenue from operations (excluding excise duty) increased by 10.93% year-on-year (YoY) to Rs 962.53 crore in Q2 FY26.
One 97 Communications rallied 3.89% after the company reported a consolidated net profit of Rs 21 crore in Q2 FY26, which is sharply lower as compared with the PAT figure of Rs 930 crore recorded in Q2 FY25. Revenue from operations during the period under review increased by 24% YoY to Rs 2,061 crore. The revenue growth was driven by continued growth momentum in subscription merchants, payments GMV and distribution of financial services.
Interglobe Aviation(Indigo) added 2.50%. The company’s consolidated net loss widens to Rs 2,582.1 crore in Q2 FY26, compared with net loss of Rs 986.7 crore in Q2 FY25, including the impact of currency movement pertaining to dollar based future obligations. Revenue from operations increased 9.34% to Rs 18,555.3 crore in Q2 Sept 2025, driven by strong operational execution and efficient capacity deployment.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 6,530 compared with 6.530 in previous sesson.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.6175 compared with its close of 88.7000 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement rose 0.10% to Rs 120,640.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.12% to 100.05.
The United States 10-year bond yield fell 0.26% to 4.148.
In the commodities market, Brent crude for December 2025 settlement advanced 13 cents or 0.20% to $63.65 a barrel.
Global Markets:
Asia-Pacific markets rose Thursday, tracking Wall Street gains after AMD’s third-quarter earnings beat lifted artificial intelligence stocks.
U.S. equity futures were little changed in early Asian hours after the Supreme Court expressed skepticism over President Donald Trump’s tariffs, and as AI stocks recovered following a sell-off on valuation concerns.
Overnight, the Dow Jones Industrial Average gained 225.76 points, or 0.48%, to close at 47,311.00. The S&P 500 rose 0.37% to finish at 6,796.29, while the Nasdaq Composite advanced 0.65% to settle at 23,499.80.
Investors were paying attention to the Supreme Court hearing Wednesday regarding President Donald Trump’s tariffs. At issue is whether the president had the authority to impose such duties under the International Emergency Economic Powers Act, or IEEPA.
The high court’s justices focused their questions on the legality of the sweeping tariffs, with both conservative and liberal members asking Solicitor General D. John Sauer about the Trump administration’s justification.
Equity investors received some encouraging data on the economy Wednesday with better ADP payrolls data and a stronger ISM services economy reading.
Payroll growth at private companies turned slightly stronger than expected in October, providing some hope that the labor market isn’t in danger of sinking, ADP reported Wednesday. Companies added 42,000 jobs for the month, following a decline of 29,000 in September. A revision for September showed 3,000 fewer jobs lost, the payrolls processing firm said.
Service-sector activity picked up in October, pushed by new orders and general business activity as imports receded, the Institute for Supply Management reported Wednesday.
The ISM services index rose to 52.4%, up from September’s 50%, which is the breakeven point for overall expansion for the measure.
Revenue from operations during the period under review increased by 24% YoY to Rs 2,061 crore. The revenue growth was driven by continued growth momentum in subscription merchants, payments GMV and distribution of financial services.
In Q2 FY 2026, the Payment Services revenue (including other operating revenue) was up 25% YoY to Rs 1,223 crore. Net payment revenue rose by 28% YoY at Rs 594 crore due to improved payment processing margin, high quality device additions and early onset of festive season.
The company saw its Gross Merchandise Value (GMV) surge by 27% year-on-year to ₹5.67 lakh crore. This significant growth was fueled by better processing margins, largely due to the increased use of credit cards on UPI and enhanced affordability options like EMI (Equated Monthly Installment). Furthermore, Paytm's merchant ecosystem continued its expansion, driving the company's leadership in omni-channel payments. Merchant subscriptions hit a record high of 1.37 crore, reflecting a year-on-year increase of 25 lakh.
The revenue from the distribution of financial services revenue grew 63% YoY to Rs 611 crore in Q2 FY26. This was driven by continued growth in merchant loan distribution and improved collection performance experience for our partners. The number of customers availing financial services rose to 6.5 lakh in Q2 FY26 from from 6.0 lakh in Q2 FY25.
In Q2 FY26, the Marketing Services revenue was Rs 228 crore, down 25% YoY. On a like-to-like basis, after adjusting for sale of the entertainment ticketing business in Q2 FY25, the revenue was down 15% YoY.
Contribution profit grew by 35% YoY to Rs 1,207 crore, with a Contribution margin of 59%, an increase of 5 percentage point YoY, fuelled by improved net payment revenue, higher share of distribution of financial services revenue, and lower other direct costs.
EBITDA improved to Rs 142 crore (margin of 7%) in Q2 FY26, on account of improved contribution margin and continued discipline on costs. The company had recorded a negative EBITDA of Rs 404 crore in the same period last year.
One 97 Communications said that it has a loan to First Games Technology (a joint venture entity). In Q2 FY26, full impairment of this loan has been taken, leading to a one-time charge of Rs 190 crore in Q2 FY26. Excluding the exceptional charge, the company has recorded a net profit of Rs 211 crore.
The company’s cash balance was Rs 13,068 crore as of quarter ending September 2025, as compared to Rs 9,999 crore as of quarter ending September 2024.
The scrip had lost 0.53% to end at Rs 1268.25 on the BSE yesterday.
Paytm (One 97 Communications) announced a partnership with Groq, the U.S.-based leader in real-time AI inference, to bring fast, intelligent, and cost-efficient AI to its platform.
Under this collaboration, Paytm and its associate entities will deploy GroqCloud, powered by Groq's purpose-built LPU, to achieve significantly faster, more cost-efficient and scalable AI inference compared to conventional GPU-based systems. This advancement will support Paytm's ongoing work in building high-performance AI models that enhance transaction processing, risk assessment, fraud detection, and customer engagement across its platform.
Following this, PFSL's investee firms — Admirable Software, Mobiquest Mobile Technologies, Urja Money, and Fincollect Services — will also become wholly owned subsidiaries.
Additionally, the company will acquire the remaining stakes in three other group entities for a combined Rs 3.52 crore — 51% in Paytm Emerging Tech Ltd (formerly Paytm General Insurance Ltd), 67.55% in Paytm Insuretech Pvt Ltd, and 51% in Paytm Life Insurance Ltd — making them wholly owned subsidiaries.
In addition, it will convert debentures and inter-corporate deposits worth Rs 15 crore in Little Internet Pvt Ltd, raising its stake from 62.53% to about 78%.
All transactions will be completed on an arm's-length basis by 31 January 2026, as part of Paytm’s ongoing effort to simplify its group structure and enhance efficiency.
Paytm is India's leading mobile payments and financial services distribution company. The company reported a consolidated net profit of Rs 122.5 crore, reversing a net loss of Rs 544.6 crore in Q1 FY25. Revenue from operations rose 27.7% YoY to Rs 1,917.5 crore, driven by growth in subscription merchants, higher GMV (Gross Merchandise Value), and increased revenue from financial services distribution.