India, Nov. 6 -- After the RBI's whip on its payments bank arm last year, the worst seems to be behind Paytm. Far from declining revenues and bleeding losses that headlined most of the fintech giant's FY25, the ongoing fiscal year brought happy tidings for the company.

After clocking its first operationally profitable quarter in Q1 FY26, the company managed to stay in the black in the quarter ended September 2025. But profits declined 98% year-on-year (YoY) and 83% sequentially to INR 21 Cr.

The steep decline had largely to do with the INR 2,048 Cr Paytm Insider sale in Q2 FY25 and not any operational reason. That said, the fintech major would have maintained the momentum in the recently concluded quarter, too, if the real money gaming ...