Shares of One97 Communications (Paytm) surged 4.01% to ₹1,155.10 in early trade on Thursday, touching an intraday high of ₹1,168.20 against a previous close of ₹1,110.60. Volumes crossed 13.41 lakh shares within minutes of opening. The trigger is a landmark set of results — Paytm reported its first-ever full-year net profit of ₹552 crore for FY26, reversing a loss of ₹663 crore in FY25 — a ₹1,215 crore swing in a single year.
Q4 FY26 consolidated net profit came in at ₹184 crore, compared to a loss of ₹540 crore in Q4 FY25 — a dramatic year-on-year turnaround. Revenue from operations grew 18.4% YoY to ₹2,264 crore. Full-year revenue rose 22% to ₹8,437 crore, while EBITDA swung by ₹2,008 crore YoY to ₹502 crore. There is one caveat — Q4 profit of ₹184 crore declined 18.2% sequentially from ₹225 crore in Q3, raising some margin sustainability questions.
Merchant GMV grew 27% YoY to ₹6.5 lakh crore. Subscription merchants reached 1.51 crore with 27 lakh net additions. Consumer UPI GTV grew 46% YoY — 2.2x the industry growth rate of 21%. Financial services revenue — the highest-margin segment — surged 52% YoY to ₹2,593 crore for the full year. Paytm also holds ₹13,315 crore in cash, which management said will fund capex, MTF scaling, AI investments and selective inorganic opportunities.
Despite the RBI cancelling Paytm Payments Bank’s licence last month, the core business has demonstrably moved on — and the first annual profit in the company’s listed history is the market’s clearest signal yet that the Vijay Shekhar Sharma turnaround story is real.