5433962026-07-012026-09-305433962026-09-305433962026-03-315433962026-04-012026-09-305433962026-07-012026-09-30in-capmkt:OtherExpenses1Member5433962026-07-012026-09-30in-capmkt:OtherExpenses2Member5433962026-07-012026-09-30in-capmkt:OtherExpenses3Member5433962026-07-012026-09-30in-capmkt:OtherExpenses4Member5433962026-04-012026-09-30in-capmkt:OtherExpenses1Member5433962026-04-012026-09-30in-capmkt:OtherExpenses2Member5433962026-04-012026-09-30in-capmkt:OtherExpenses3Member5433962026-04-012026-09-30in-capmkt:OtherExpenses4Member5433962026-09-30OtherNoncurrentFinancialAssetsDomain15433962026-09-30OtherNoncurrentAssetsDomain15433962026-09-30OtherNoncurrentAssetsDomain25433962026-09-30OtherCurrentFinancialAssetsDomain15433962026-09-30OtherCurrentAssetsDomain15433962026-09-30OtherNoncurrentFinancialLiabilitiesDomain15433962026-09-30OtherNoncurrentLiabilitiesDomain15433962026-09-30OtherCurrentFinancialLiabilitiesDomain15433962026-09-30OtherCurrentFinancialLiabilitiesDomain25433962026-09-30OtherCurrentLiabilitiesDomain15433962026-09-30OtherCurrentLiabilitiesDomain25433962026-07-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15433962026-04-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15433962026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15433962026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15433962026-07-012026-09-30AuditorDomain1iso4217:INRiso4217:INRxbrli:shares543396PAYTMNOTLISTEDINE982J01020One 97 Communications LimitedMain BoardEquity2026-04-012027-03-312026-10-262026-10-14INRCroresQuarterlySecond quarterSingle segmentRefer Segment Note2026-10-2619:51:002026-10-2622:15:00trueCash Flow IndirectDeclaration of unmodified opinion2026-07-012026-09-30UnauditedConsolidated26480000000182000000028300000000000759000000070000000146000000016190000000253100000002990000000-40000000295000000034000000033000000067000000002280000000000-30000000225000000048000000027300000002260000000-100000002740000000-1000000064000000013.523.47003.523.47 <br /> 1. The Statement of Unaudited Consolidated Financial Results has been prepared in accordance with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India and presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (‘Listing Regulations’). The Statement of Unaudited Consolidated Financial Results of the Company and its subsidiaries (collectively ''the Group'') and its interest in associates and joint ventures have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on October 26, 2026. The Statutory Auditors of the Company have carried out Limited Review of the aforesaid results. <br /> <br /> 2. The Group is engaged in different business units, including payment and financial services and marketing services and the Board of Directors (Chief Operating Decision Maker “CODM”) reviews the information at the revenue level and does not allocate operating costs and expenses, assets and liabilities across business units, as the CODM does not use such information to allocate resources or evaluate the performance of the business units. Allocation of resources and assessment of financial performance is done at the consolidated level. The way the CODM reviews the performance, management of the Group has concluded that the Group constitutes a single segment as per Ind AS 108 'Operating Segments'. Hence, no separate disclosure is required for segments. <br /> <br /> 3. Exceptional item comprises of: <br /> <br /> a. September 30, 2026: <br /> During the quarter and six-month period ended September 30, 2026, the Holding Company has written-off obsolete capital work-in-progress amounting to INR 4 crores. <br /> <br /> b. March 31, 2026: <br /> During the year ended March 31, 2026, exceptional loss represents impairment of investments in associates of INR 5 crores, optionally convertible debentures of INR 12 crores and loan given to a JV of INR 190 crores respectively. Additionally, Group received interest income of INR 21 crores relating to impaired loan given to JV in earlier period. <br /> <br /> c. September 30, 2025: <br /> <br /> i. During the quarter and six-month period ended September 30, 2025, the Group has recorded an impairment loss against a loan given to the JV of INR 190 crores. <br /> <br /> ii. During the six-month period ended September 30, 2025, the Group recognized provision for impairment of investments in associates amounting to INR 5 crores and an impairment provision of INR 12 crores of optionally convertible debentures. <br /> <br /> 4. Deferred tax expense includes INR 23 crores pertaining to previous year and INR 5 crores pertaining to previous quarter, recorded on completion of Groups’ assessment of income tax pertaining to one of its subsidiaries. <br /> <br /> 5. During the year ended March 31, 2025, the Holding Company, together with its subsidiary and step-down subsidiary (namely Little Internet Private Limited and Nearbuy India Private Limited respectively), received a Show Cause Notice ("SCN") dated February 27, 2025, from the Directorate of Enforcement, Government of India. The SCN alleged contraventions of certain provisions of the Foreign Exchange Management Act, 1999 (FEMA) and the rules and regulations framed thereunder. <br /> <br /> The alleged contraventions inter-alia primarily pertains to certain investments made by the Holding Company in those subsidiaries in earlier years and equity raised by the subsidiaries. The alleged contraventions include periods when Little Internet Private Limited and Nearbuy India Private Limited were not subsidiaries of the Holding Company. The aggregate value of the contraventions included in the SCN is approximately INR 611 crores. <br /> <br /> During the year ended March 31, 2026, Reserve Bank of India (“RBI”) compounded matters having aggregate value of approximately INR 21 crores relating to Nearbuy India Private Limited and matters having aggregate value of approximately INR 33 crores for the Holding Company. <br /> <br /> Further, based on the application and the additional steps taken by the Holding Company and its subsidiaries, RBI had observed that the matters having aggregate value of approximately INR 485 crores are in compliance with applicable laws. <br /> <br /> The Group is in the process of taking necessary steps for resolution of matters included in the SCN. Based on an independent legal opinion and management's assessment, the Group has recorded provision for related compounding fees on best estimates. <br /> Pending the final outcome of all the related processes in this regard, it is not possible to assess the consequent effects of the above remaining matters on these financial results. <br /> <br /> 6. Details of utilisation of net IPO Proceeds of INR 8,119 crores, are as follows: <br /> (Amount in INR crores) <br /> S. No Objects of the issue Amount as proposed Amount Utilised Amount Un-Utilised <br /> in Offer Document up to as on <br /> September 30, 2026 September 30, 2026 <br /> <br /> 1Growing and strengthening our Paytm <br /> ecosystem, including through acquisition <br /> and retention of consumers and merchants <br /> and providing them with greater access to <br /> technology and financial services <br /> <br /> i) Marketing and promotional expenses 761 <br /> ii) Expanding our merchant base and deepening <br /> our partnership with our merchants 1,722 <br /> iii) Strengthening and expanding our technology <br /> powered payments platform 4,300 1,817 - <br /> Total (A) 4,300 4,300 - <br /> <br /> 2 Investing in new business initiatives, acquisitions <br /> and strategic partnerships# <br /> <br /> i) Investments in new business initiatives <br /> a) Payment Services 5.5 <br /> b) Commerce and cloud services 2000 60.0 1,486 <br /> c) Financial Services 448.5 <br /> ii) Investments in acquisitions and strategic partnerships - <br /> Total (B) 2,000 514 1,486 <br /> <br /> 3 General corporate purposes 1,819 1,819 - <br /> Total (C) 1,819 1,819 - <br /> <br /> Total (A+B+C) 8,119 6,633 1,486 <br /> <br /> Net IPO proceeds which were un-utilised as at September 30, 2026 were temporarily invested in fixed deposits with scheduled commercial banks and in monitoring agency accounts. <br /> <br /> # During the quarter ended September 30, 2026, the Holding Company, pursuant to the approval of Board of Directors and Shareholder’s approval through Special Resolution changed the purpose of utilization of residual IPO Proceeds of Object 2 as below: <br /> <br /> INR 1,686 crores outstanding unutilized as at July 1, 2026 - The mentioned amount of INR 1,686 crores can be utilized under Object 1 and / or Object 2 (Fully Fungible) without any sub limit for any category by 31 March 2029. <br /> <br /> 7. On April 24, 2026, the Reserve Bank of India (RBI), through a press release, cancelled the banking license of Paytm Payments Bank Limited (“PPBL”). Consequently, on April 25, 2026, the shareholders of PPBL approved necessary resolutions to enable the winding-up of PPBL either, as instructed by the RBI, or voluntarily with the permission of RBI. The Group has no exposure to PPBL and does not maintain any material business arrangements or service partnerships with PPBL. Additionally, PPBL operates independently with no board or management involvement from the Group. There is no direct financial or operational impact on the Group arising from this development. Previously RBI had issued directions to PPBL on January 31, 2024 effectively restricting PPBL’s normal business and Group had fully impaired its investment in PPBL as of March 31, 2024. <br /> <br /> 8. Pursuant to the RBI's Master Direction on Regulation of Payment Aggregators dated September 15, 2025, the Holding Company transferred its Offline merchant business to its wholly owned subsidiary, Paytm Payments Services Limited ("PPSL"), on a slump sale basis for a consideration of INR 975 crores, effective midnight of November 30, 2025. As this is an intra-group transaction, it has no impact on the consolidated financial results. <br /> <br /> 9. On April 28, 2025, the Holding Company’s Joint Venture (JV), First Games Technology Private Limited, received a show cause notice (SCN) from the Directorate General of GST Intelligence, New Delhi. The SCN proposed a GST liability of INR 5,712 crores plus penalty under Sections 74(1), 122(1) and 125 of the CGST Act, 2017 for April 2018 to March 2023. The SCN’s basis was that GST should be levied @28% on the total entry amount instead of @18% on the platform fee. The JV’s writ petition challenging the SCN led the Hon’ble Supreme Court to stay the proceedings on May 23, 2025. On May 27, 2026, however, the Court upheld the 28% levy on online gaming companies and directed adjudication under Rule 31B of the GST Rules, 2017. <br /> <br /> Subsequent to the reporting period on October 12, 2026, the JV received a demand order from the Additional Commissioner of CGST, Noida, under Section 74(9) of the CGST Act, 2017, which reduced the tax liability to INR 704 crores for April 2018 to March 2023, along with an equal penalty and applicable interest. JV is evaluating the appropriate course forward in accordance with relevant statutory provisions. <br /> <br /> The Group’s exposure is limited to its investment in the JV, the carrying value for which, is already nil. Accordingly, there is no financial impact on the Group, and no adjustments are required in its financial results. <br /> <br /> JV had discontinued its online real money gaming business with effect from August 25, 2025, following regulatory changes, and accordingly, the Group, during the quarter ended September 30, 2025, had fully impaired its loan amounting to INR 179 crores given to the JV. During the quarter ended June 30, 2026, the said loan along with unpaid interest amounting to INR 197 crores was converted into 19,67,70,855 equity shares of INR 10 each, at par, of the JV. This conversion has no financial impact on the Group. <br /> 2026-04-012026-09-30UnauditedConsolidated5096000000036400000005460000000000015010000000140000000277000000031220000000491400000005460000000-40000000542000000061000000033000000094000000004480000000000-30000000445000000046000000049100000004460000000-100000004920000000-1000000064000000016.976.89006.976.89Payment processing charges8050000000Marketing and promotional expenses1940000000Software, cloud and data centre expenses2110000000Other expenses4090000000Payment processing charges15990000000Marketing and promotional expenses3630000000Software, cloud and data centre expenses3700000000Other expenses7900000000776000000030000000003380000000900000000470000000180400000000900000003600000001849000000011000000070900000003742000000003490000000012150000000249500000001021900000007490000000219600000002036400000003320000000206960000000244380000000640000000165400000000166040000000110000000166150000000000021800000002180000000104000000035000000027000000038400000000380000000905000000094300000006028000000069710000000310000000014800000001000000007439000000078230000000244380000000Note 1 : Other intangible assets include <br /> - Right of use assets INR 307 and Other intangible assets INR 31 <br /> <br /> Note 2: Deferred tax assets and deferred tax liabilities are not netted off. <br /> <br /> Note 3. Investments accounted for using equity method consists of - <br /> Investment in Associates INR 47Other financial assets360000000Tax assets6350000000Other non-current assets740000000Other financial assets21960000000Other current assets3320000000Lease liabilities2180000000Contract liabilities270000000Lease liabilities460000000Other financial liabilities59820000000Contract liabilities860000000Other current liabilities2240000000The Group is engaged in different business units, including payment and financial services and marketing services and the Board of Directors (Chief Operating Decision Maker “CODM”) reviews the information at the revenue level and does not allocate operating costs and expenses, assets and liabilities across business units, as the CODM does not use such information to allocate resources or evaluate the performance of the business units. Allocation of resources and assessment of financial performance is done at the consolidated level. The way the CODM reviews the performance, management of the Group has concluded that the Group constitutes a single segment as per Ind AS 108 'Operating Segments'. Hence, no separate disclosure is required for segments.1100000000-12900000000-510000000004090000000-23100000005400000000100000000027700000000-4600000000-39200000000-1000000003340000000970000000-2300000000-10000000028400000000-6600000004760000000000610000000041500000000000000020000000434000000000000000000088600000000000024700000000-1550000000-1226000000000000010000000000130000000011000000000-230000000-8340000000440000000-79000000003285000000024950000000Re-measurement gain / (loss) on defined benefit plans1000000010000000Re-measurement gain / (loss) on defined benefit plans200000002000000000Exchange differences on translation of foreign operations470000000470000000Exchange differences on translation of foreign operations44000000044000000000480000000460000000UnauditedtrueS.R.Batliboi & Associates LLPtrue2027-07-31