Overall contribution profit was up 4.7% QoQ at Rs 12.1 billion, translating to a contribution margin of 58.5%, up by 466bps YoY but down -155 bps QoQ. Ebitda before ESOP cost stood Rs 1.41 billion, which translated to an adjusted Ebitda margin of 6.8%, as against -11.2% in Q2 FY25 and 5.3% in Q1 FY26
NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
-
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
Yes Securities Report
We maintain an ‘Add' rating on Paytm with a revised price target of Rs 1400.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
One 97 Communications Ltd.'s total revenue from operations was up 24.2% YoY and 7.5% QoQ to Rs 20.6 billion for the quarter. Revenue from Payments services was up 9.8% QoQ and 21.1% YoY to Rs 11.5 billion.
Revenue from Financial Services business was up 8.9% QoQ and 62.5% YoY to Rs 6.11 billion. The revenue from Marketing Services in Q2 stood at Rs 2.28 billion, down by - 24.5% YoY and -7.7% QoQ.
Payment Services has grown close to a ~20% handle, after bouncing back from the crisis situation, which does not seem like high-growth phase.
Paytm has relaunched the BNPL business. The overall unit economics of the new BNPL offering will be within 20 bps of what the company used to earn from the earlier version.
In the earlier avatar, the BNPL product used to make 70-80 bps margin. Also, management stated AI expands the opportunity hugely on the merchant side.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
