"Paytm’s Q2: Profit dips, revenue surges – Is the turnaround story still intact?"

📊 Q2 FY26 Results Snapshot - Reported Net Profit: ₹21 crore, down from ₹939 crore YoY due to a ₹190 crore impairment in First Games JV - Adjusted PAT (before impairment): ₹211 crore – second consecutive profitable quarter - Revenue: ₹2,061 crore, up 24% YoY, driven by payments and financial services - EBITDA: ₹142 crore, with a 7% margin - Contribution Profit: ₹1,207 crore, up 35% YoY 💡 Key Business Drivers - Payments Growth: Strong traction in merchant payments and UPI volumes - Financial Services: Lending and insurance distribution gaining scale - Merchant Network: Expanded reach across MSMEs and enterprises - Tech Efficiency: Operating leverage improving margins despite impairment hit ⚠️ Investor Watchouts - JV Risk: ₹190 crore impairment in First Games raises concerns on non-core investments - Profit Volatility: Adjusted PAT is positive, but headline profit impacted by exceptional items - Regulatory Landscape: RBI scrutiny and digital lending norms could affect growth - Stock Movement: Currently trading at ₹1,268, down 0.53% from previous close 🚀 Future Outlook & Strategy - Sustainable Profitability: Focus on core payments and financial services to maintain PAT momentum - Lending Expansion: Scaling postpaid, personal loans, and merchant credit - Tech Innovation: AI-driven risk models and customer engagement tools - Partnerships: Collaborations with NBFCs and insurers to deepen distribution