India, Nov. 5 -- Paytm's Past Muddles Q2

Paytm just about managed to remain in the black in Q2 FY26. Despite robust growth in its top line and improving EBITDA margins, the company's profits shrank considerably due to a statistical illusion.

Here is a snapshot of Paytm's Q2 numbers:

Net profit stood at INR 21 Cr, down 98% YoY and 83% QoQ

Operating revenue rose 24% YoY and 7% QoQ to INR 2,061 Cr

Total expenses declined 8% YoY to INR 2,062 Cr

EBITDA margin improved to 6.8% from -24% in Q2 FY25

Ghosts Of The Past: The profits reported in Q2 FY25 were not a result of operational efficiency or growth, but the result of a one-time gain from the sale of Paytm's entertainment ticketing business. Paytm also had to write off an impairment of...