Overview
- Q2 FY26 revenue rose 24% year on year to Rs 2,061 crore, while net profit fell to Rs 21 crore due to a Rs 190 crore impairment tied to its gaming JV and an unusually high base from last year’s asset sale.
- The stock climbed roughly 4–5% to a new 52-week high after MSCI said Paytm will join its Global Standard Indexes on November 24, a move expected to attract passive foreign inflows.
- Jefferies raised its target to Rs 1,600, Citi to Rs 1,500 and BofA to Rs 1,400, while UBS set Rs 1,250, citing margin progress, payments strength and expanding financial services.
- One97’s board approved a rights issue of up to Rs 2,250 crore to fund Paytm Payments Services, aiming to bolster net worth, acquire the offline merchant payments business and support working capital, with completion targeted by December 31 subject to approvals.
- Management is leaning on AI and new products, launching a Postpaid offering and partnering to deploy GroqCloud for real-time inference to enhance underwriting, collections and payment economics.