India, Dec. 28 -- Reset, reposition, revive - perhaps these three words in this order can best describe the year for Paytm. Few Indian fintech firms have staged as dramatic a reversal as did the Vijay Shekhar Sharma-led startup in 2025.

From being whipped by the Reserve Bank of India with a crippling restriction on Paytm Payments Bank (PPBL), prohibiting fresh deposits and addition of new users, the company swung to a profit of INR 122.5 Cr in the first quarter of FY26 from a net loss exceeding INR 800 Cr just a year back. The topline and the EBITDA margin too improved sequentially during the year.

The regulatory action had not only battered its wallet ecosystem and deposit base, but also blurred its vision, making profitability increas...