Paytm reported operating revenue of ₹2,061 crore for the second quarter of fiscal year 2026, covering the three months from July to September 2025, a 24 per cent increase compared with the same period a year earlier. The company posted a profit of ₹211 crore before a one-time ₹190 crore impairment on loans to its gaming joint venture, leaving reported profit after tax at ₹21 crore; in August its payments subsidiary had received in-principle approval from the Reserve Bank of India to operate as an online payment aggregator.
FINANCIAL SERVICES DISTRIBUTION
Financial services distribution revenue grew 63 per cent year-on-year to ₹611 crore. The growth was driven primarily by merchant loans.
Management lists expanding the distribution of financial services among its key focus areas, and said merchant loan distribution continued to show robust momentum in the quarter.
The RBI's in-principle approval for Paytm's payments arm to act as an online payment aggregator, received in August, allowed its payments subsidiary to resume onboarding new online merchants. Final RBI authorisation was still pending at the time of the results.
OPERATING METRICS
Paytm's payments GMV grew 27 per cent year-on-year to ₹5.67 lakh crore in the quarter, while its merchant device subscriptions rose to 1.37 crore.
The Q2 FY2026 results were published on 4 November 2025.