Paytm Q2 Results FY27: Date, Rs 211 Crore Profit Base and 5 Numbers to Read First

Earnings · Paytm Q2 FY27 Preview

The date is still open and the year-ago profit base is distorted. Here is how to read the Paytm Q2 results FY27 when they arrive, then see the three cases where the headline growth rate misleads.

Updated: Monday, 26 October 2026, 6:30 PM IST  |  Reading time: 11 min  |  Next update: on Paytm’s board-meeting intimation, then on results day

Latest update (Monday, 26 October 2026, 6:30 PM IST): Published using Paytm’s Q1 FY27 results (20 July 2026) and the Q2 FY26 base. No Q2 FY27 board-meeting intimation was seen in the sources checked. Next: this page is updated the moment the date is filed.

In plain words: Paytm earns fees on payments and by selling partners’ loans. Profit after tax is the final profit; EBITDA is operating profit before interest, tax and depreciation. A one-off charge can make profit look worse than the business was.

Data note: Q1 FY27 figures are from a Kotak Neo report of 21 July 2026 that I opened. Q2 FY26 and Q4 FY26 figures are cross-read across several news reports. Board-meeting timings are from Paytm’s NSE filings of 28 April and 6 May 2026. I did not open Paytm’s own earnings release; confirm each figure on NSE or BSE.

When are the Paytm Q2 results FY27 due?

As of 26 October 2026 the Paytm Q2 results FY27 date was not confirmed, and the past pattern points to the first half of November.

Paytm files a board-meeting intimation with the exchanges before results. Its May 2026 filing shows intimation on 28 April for a 6 May meeting, eight days ahead. Results come after market hours, so the share reaction shows on the next session.

If your search says “Paytm Q2 results 2027”, it is the same quarter: FY27 runs from April 2026 to March 2027, so Q2 FY27 is July to September 2026.

What is the Q2 FY26 base, and why is it distorted?

The base to beat is Q2 FY26: revenue from operations of Rs 2,061 crore and profit of Rs 21 crore, or Rs 211 crore before a one-off charge.

The charge was Rs 190 crore, a full impairment of a loan to its gaming joint venture, First Games Technology, after the Online Gaming Act, 2025. Judge year-on-year growth against the Rs 211 crore figure, not Rs 21 crore.

PositionalCalls Paytm Base-to-Beat Table (as of 26 October 2026)

A dash means the figure was not verified for this page.

Cite this table: PositionalCalls Paytm Base-to-Beat Table, 26 October 2026, positionalcalls.com/paytm-q2-results-fy27/

Worked checks (my calculation):

• Segments add up: Q2 FY26 payments, financial services and marketing sum to Rs 1,223 crore + Rs 611 crore + Rs 228 crore = Rs 2,062 crore, against reported Rs 2,061 crore. Q1 FY27 gives Rs 1,384 crore + Rs 814 crore + Rs 239 crore = Rs 2,437 crore, against Rs 2,448 crore.
• Growth rates: Rs 2,448 crore against Rs 1,918 crore is +27.6%, and against Rs 2,264 crore is +8.1%.
• Margin: Rs 203 crore divided by Rs 2,448 crore is 8.3%.

What changed and when?

Six dated events explain why Paytm’s reported numbers are harder to compare than they look.

At the same Q1 FY27 meeting, the board sought approval to change how the remaining Rs 1,686 crore of IPO proceeds is used and to extend the timeline to 31 March 2029.

Which five numbers should I read first?

Read revenue, payment services, financial services, EBITDA and profit first, each against the table above.

1. Revenue from operations: compare with Rs 2,061 crore (year on year) and Rs 2,448 crore (quarter on quarter).
2. Payment services and GMV: Q1 FY27 was Rs 1,384 crore with GMV up 31%. See whether the pace holds.
3. Financial services distribution: Rs 814 crore in Q1 FY27 (+45%). Check partner credit quality and any default-loss guarantee disclosures.
4. EBITDA: Rs 203 crore reported and Rs 195 crore excluding PIDF in Q1 FY27. Use the comparable figure for trend.
5. Profit after tax: compare with Rs 211 crore, then check how much came from other income.

Other income matters here. Q2 FY26 total income was Rs 2,283 crore against Rs 2,061 crore from operations, so other income was about Rs 222 crore. For Q1 FY27, total income of Rs 2,630 crore less Rs 2,448 crore implies about Rs 182 crore (my calculation). Read how much of profit rests on it.

How does Paytm make money?

Paytm earns fees on payments, commissions on loans it distributes for partners, and marketing income.

• Payment services: merchant payments, QR, soundbox and card machines, and processing fees. It added 2.7 million soundboxes in the year to Q1 FY27 and holds an online payment aggregator licence.
• Financial services distribution: merchant loans, personal loans and other products offered with lending partners.
• Marketing and other services: advertising and cloud-type revenue.

The mix matters. Payment processing margins and loan distribution fees lift contribution profit, which was 59% of revenue in Q2 FY26 and 55% in Q4 FY26.

What are the risks, and what do most people miss?

The biggest risks are a distorted base, changing incentives and rule timelines, and reliance on other income.

PositionalCalls Paytm Distortion Guide (as of 26 October 2026)

Cite this table: PositionalCalls Paytm Distortion Guide, 26 October 2026, positionalcalls.com/paytm-q2-results-fy27/

What most people miss:

• The PIDF effect was small in Q1 FY27: Rs 203 crore less Rs 195 crore is Rs 8 crore (my calculation).
• Top-three UPI apps held 87% in May 2026 and PhonePe plus Google Pay 79%, so Paytm was roughly 8% (my calculation from rounded figures).
• RBI restrictions on Paytm Payments Bank in early 2024 hurt UPI share; the recovery to about 7.7% by November 2025 was gradual.

How could the quarter read? Stated assumptions

Three stated-assumption views show what different revenue and profit levels would imply; they are arithmetic, not forecasts.

PositionalCalls Paytm Revenue and Profit Threshold Table (as of 26 October 2026)

Cite this table: PositionalCalls Paytm Revenue and Profit Threshold Table, 26 October 2026, positionalcalls.com/paytm-q2-results-fy27/

What is the results-day checklist?

• Confirm the board-meeting date and download the consolidated results from NSE or BSE.
• Compare revenue from operations with Rs 2,061 crore and Rs 2,448 crore.
• Compare profit with Rs 211 crore, not only Rs 21 crore.
• Use the comparable (ex-PIDF) EBITDA and profit for trend.
• Check payment services, financial services and marketing lines.
• Read the other income and exceptional items notes.
• Check any update on UPI cap timing and the IPO proceeds plan.
• Read management commentary on lending partners and credit costs.

How to invest in Paytm shares: what you need and what it costs

You need a demat and trading account with a SEBI-registered broker; charges and tax depend on your broker and current rules.

• What you need: PAN, bank account and completed KYC.
• What it costs: brokerage, demat and transaction charges vary; check your broker’s current schedule.
• Tax angle: see capital gains tax on shares, and check current rules or ask a tax adviser.
• App vs shares: using the Paytm app is different from owning shares of One 97 Communications.
• NRIs: see NRI investment in the Indian stock market.
• Scam warning: fake allotment or KYC pages and OTP requests are common; never share an OTP.

Analyst’s note

Part of the Earnings series by Shubham Chaudhary.

Frequently asked questions

Sources

• One 97 Communications NSE integrated filing, board meeting 6 May 2026
• One 97 Communications NSE prior intimation, 28 April 2026
• Paytm investor relations
• NSE India and BSE India
• Secondary, not linked: Kotak Neo (Q1 FY27 report, 21 July 2026), Inc42, Business Standard, Entrackr, DSIJ, Outlook Business, Torus Digital, Angel One

PositionalCalls.com is an independent Indian stock market research and education site founded by Shubham Chaudhary. PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. Content is for information and education and is not personal advice. How I researched this: I opened Paytm’s NSE filing references and a Kotak Neo report of Q1 FY27 results; other figures are cross-read from news reports and should be checked against Paytm’s own filings. See the research methodology.