One 97 Communications Ltd

Revenue from operations during the period under review increased by 20.02% YoY to Rs 2,194 crore, driven by industry-leading customer monetization. The growth was led by higher payments GMV, increased merchant subscriptions, and stronger revenue from the distribution of financial services. In Q3 FY26, contribution profit stood at Rs 1,249 crore, up 30% year-on-year. Contribution margin improved to 57%, driven by higher payment processing margins and an increased share of distribution of financial services revenue. EBITDA in Q3 FY26 was Rs 156 crore, with an EBITDA margin of 7%, marking a Rs 379 crore year-on-year improvement, despite higher promotional expenses for consumer growth and the full impact of the new labour code. Paytm UPI continued to gain market share for the third consecutive quarter. Its consumer UPI GMV grew 35% in the last nine months versus industry GMV growth of 16%, the company said. Paytm said there was an 'insignificant' impact on revenue from industry stoppage of rent payments through credit card (PA PG guidelines, September 2025) and the Real Money Gaming (RMG) Act, August 2025, as the company had taken proactive compliance measures over the past few years. Payments services revenue (including other operating revenue) grew 21% YoY to Rs 1,284 crore. Net payment revenue increased by 25% YoY to Rs 613 crore, due to improved payment processing margin and an increase in merchant subscriptions, which grew by 27 lakh YoY to reach 1.44 crore. Payments GMV grew 24% YoY to Rs 6.2 lakh crore, the company said. In Q3 FY 2026, distribution of financial services revenue grew 34% YoY to Rs 672 crore, driven by continued growth in distribution of merchant loans and wealth products. This is despite lower volumes under the Default Loss Guarantee (DLG) program, which leads to lower revenue and lower other direct costs, the company said. Cash balance stood at Rs 12,882 crore as of the quarter ending December 2025. During the quarter, the offline merchant business was transferred to Payments Services, a wholly owned subsidiary of the company, in line with regulatory guidelines. Payments Services received final approval from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator. Further, the RBI authorised PPSL to operate as a Payment Aggregator for offline and cross-border payments, it said. The company said, Vijay Shekhar Sharma, Chairman, MD & CEO, has been additionally appointed as managing director (MD) (designated MD & CEO) of PPSL for 5 years, with effect from 29 January 2026. Paytm is India's leading mobile payments and financial services distribution company. Shares of One 97 Communications slipped 2.03% to Rs 1,145 on the BSE. Powered by Capital Market - Live

Net profit of One 97 Communications reported to Rs 225.00 crore in the quarter ended December 2025 as against net loss of Rs 208.00 crore during the previous quarter ended December 2024. Sales rose 20.02% to Rs 2194.00 crore in the quarter ended December 2025 as against Rs 1828.00 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales2194.001828.00 20 OPM %7.06-12.20 - PBDT363.00-38.00 LP PBT230.00-203.00 LP NP225.00-208.00 LP Powered by Capital Market - Live

One 97 Communications has granted 5,15,617 stock options under ESOS. Further, the Committee took note of 2,63,249 lapsed stock options. Powered by Capital Market - Live

One 97 Communications has allotted 1,00,281 equity shares under ESOP on 29 January 2026. Consequently, the paid up equity share capital has increased to Rs 63,98,28,416 (consisting of 63,98,28,416 equity shares of face value of Re 1 each).Powered by Capital Market - Live

Market chatter centred on the PIDF scheme, which was extended until December 2025 and is used to incentivise the deployment of digital payment infrastructure. There is currently no clarity on whether the scheme will be extended beyond that date. The media report said PIDF incentives contribute about 20% of Paytm's operating profit. This raised concerns over a potential earnings impact for digital payments and infrastructure players. However, there has been no official communication from the Reserve Bank of India on any extension or replacement of the scheme. In response, Paytm clarified to the bourses today (23 January 2026) that it has recognised incentives under the PIDF scheme in line with RBI guidelines. The company said the incentives relate to qualifying expenditure incurred towards the deployment of payment acceptance devices such as soundboxes and EDC machines, primarily across Tier-3 to Tier-6 centres and select regions of India. The company said the PIDF scheme was valid until 31 December 2025, and incentives received under the scheme amounted to Rs 128 crore for the six months ended 30 September 2025. Paytm added that there has been no announcement so far on any extension or replacement of the scheme. In the event the scheme is not extended, the company said it expects the impact to be significantly offset over time through higher revenues and more targeted sales efforts. It also said it will make appropriate disclosures to the stock exchanges in accordance with applicable regulations. Paytm is India's leading mobile payments and financial services distribution company. The company posted a consolidated net profit of Rs 21 crore in Q2 FY26, significantly lower than the Rs 930 crore reported in Q2 FY25. Revenue from operations rose 24% year-on-year to Rs 2,061 crore. Powered by Capital Market - Live

One97 Communications will hold a meeting of the Board of Directors of the Company on 29 January 2026.Powered by Capital Market - Live

One 97 Communications has approved grant of 1,23,908 stock options to the eligible employee(s) under One 97 Employees Stock Option Scheme 2019 (ESOP 2019). Further, the Committee took note of 4,25,702 lapsed stock options.Powered by Capital Market - Live

One 97 Communications has allotted 1,88,879 equity shares under ESOS on 03 January 2025. With this allotment, the paid up equity share capital has increased to Rs 63,97,28,135 (consisting of 63,97,28,135 equity shares of face value of Re 1 each). Powered by Capital Market - Live

One 97 Communications has allotted 2,25,559 equity shares under ESOP on 02 December 2025. 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). Powered by Capital Market - Live

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. Tghe 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. Powered by Capital Market - Live