Paytm's Q2 profit rises to ₹225 crore from ₹21 crore; revenue up 28% to ₹2,648 crore

What happened

• Net profit was ₹225 crore against ₹21 crore a year earlier, and revenue ₹2,648 crore against ₹2,061 crore, up 28%, per Upstox. Deccan Herald also gave the profit as ₹225 crore and the revenue as ₹2,648 crore.
• Upstox gave EBITDA of ₹270 crore against ₹143 crore, up 90%, with the margin at 10% against 7%. It said the profit growth excluding a ₹190 crore exceptional expense was about 30%.
• Whalesbook put net profit before exceptional items at ₹229 crore, up 9%, and gross merchandise value at ₹7.1 lakh crore, up 26%. It reported 27 lakh Soundbox devices added in the quarter, taking the base to 1.64 crore, and financial services distribution revenue of ₹912 crore.
• Upstox gave registered merchants as 5.2 crore, up 10%, and the cash balance as ₹13,617 crore against ₹13,068 crore in the previous quarter. Both outlets published late on Monday evening. The shares closed at ₹1,654.70 on Monday, per Zerodha Kite, before the results.

Why it matters

The two outlets give different underlying growth: about 30% excluding a ₹190 crore exceptional expense per Upstox, and 9% on profit before exceptional items of ₹229 crore per Whalesbook.

Good to know: Gross merchandise value is the total value of payments processed through a platform. It is not the company's own revenue, which is the fee it earns on those payments and on related services.

Key facts

Net profit

₹225 crore (₹21 crore), per Upstox

Revenue

₹2,648 crore (₹2,061 crore), up 28%

EBITDA, per Upstox

₹270 crore (₹143 crore), up 90%; margin 10% (7%)

Gross merchandise value

₹7.1 lakh crore, up 26%

Cash balance, per Upstox

₹13,617 crore (₹13,068 crore in the previous quarter)

Read the source

• Paytm Q2 results: Revenue jumps 28% YoY and net profit rises to ₹225 crore; EBITDA jumps 90% YoYUpstox
• Paytm Q2 Results: Net profit jumps over 10-fold to Rs 225 cr, revenue up 28 per centDeccan Herald
• Paytm Profit Hits Rs 229 Crore, Revenue Grows 28% in Q2Whalesbook

One 97 Communications (Paytm) in the news before

1. 14 OCT 2026 · REGULATORYGST demand on Paytm's First Games Technology cut from ₹5,712 crore to ₹703.66 crore
2. 16 SEP 2026 · REGULATORYSays merchant fees now apply to UPI merchant payments above ₹2,000