One 97 Communications, the company behind Paytm, reported consolidated profit after tax of ₹2.25 billion for the quarter ended Sept. 30, 2026, as revenue growth and a much smaller exceptional charge lifted its year-on-year comparison.
That was ₹225 crore, compared with ₹21 crore a year earlier; the company’s earnings release put the increase at 971%. Its consolidated filing separately lists ₹226 crore in profit attributable to owners of the parent, up 976%, alongside a ₹1 crore loss attributable to non-controlling interests.
Profit before exceptional items rose 9% to ₹229 crore. Exceptional items totaled ₹4 crore, down from ₹190 crore in the year-earlier quarter. The filing says the year-earlier quarter included a ₹190 crore impairment loss on a loan to joint venture First Games Technology Private Limited. The venture ended its online real-money gaming operations on Aug. 25, 2025, following regulatory changes, the filing said.
Revenue from operations grew 28% to ₹2,648 crore from ₹2,061 crore a year earlier, and was 8% higher than in the quarter ended June 30, 2026. Earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 90% to ₹270 crore from ₹142 crore. The reported EBITDA margin widened to 10% from 7%.
Financial-services distribution revenue increased 49% to ₹912 crore. Payment-services revenue rose 25% to ₹1,434 crore, while marketing-services revenue gained 26% to ₹287 crore. Indirect expenses climbed 14% to ₹1,209 crore, taking up 46% of revenue compared with 52% a year earlier. One 97 cited AI-driven efficiencies among the factors behind improved operating leverage.
One 97 said it expects default loss guarantee costs to rise materially in fiscal 2027’s third quarter after restarting an arrangement with its largest lending partner. The company said the costs are recognized upfront and that it expects EBITDA to continue improving despite them.
