One 97 Communications, the parent company of Paytm, reported a consolidated net profit of ₹184 crore for Q4 FY26, a significant turnaround from a loss of ₹540 crore in the same quarter last year. Its operational revenue rose 18.4% year-on-year to ₹2,264 crore. The company noted that its Q4 results were influenced by the discontinuation of the Payments Infrastructure Development Fund (PIDF) scheme, and the UPI incentives for FY26 are yet to be finalized. Despite these headwinds, the company achieved its target of offsetting 30–40% of the PIDF impact in the quarter.
Summary P&L – Q4 FY26
Metric
Reported
Comparable (Excl. PIDF & UPI)
Operating Revenue
₹2,264 crore
₹2,254 crore
YoY Growth
18%
26%
QoQ Growth
3%
7%
Contribution Profit
₹1,254 crore
₹1,244 crore
Contribution Margin
N/A
55% (+2pp YoY)
EBITDA
₹132 crore
₹122 crore
EBITDA Margin
N/A
5% (+2pp QoQ, +17pp YoY)
Revenue Performance
Metric
Growth QoQ
Growth YoY
Commentary
Reported Operating Revenue
+3%
+18%
Sustained momentum
Comparable Revenue
+7%
+26%
Excluding PIDF & UPI incentives
PIDF Incentives
-89%
-80%
Declined sharply
UPI Incentives
Absent
Absent
Impacted reported numbers
Contribution Profit Analysis
Metric
Reported
Comparable
Notes
Contribution Profit
₹1,254 crore
₹1,244 crore
Comparable profit +7% QoQ, +31% YoY
Contribution Margin
N/A
55%
Driven by higher payment processing margins & financial services share
EBITDA Performance
Metric
Reported
Comparable
Notes
EBITDA
₹132 crore
₹122 crore
Comparable EBITDA +79% QoQ
EBITDA Margin
N/A
5%
+2pp QoQ, +17pp YoY
Management Note
PIDF impact 30–40% offset in Q4, further mitigation expected
DBT Bureau Pune, 16 May 2026 Global commodities markets remained volatile amid rising geopolitical tensions, inflationary pressures, and tightening energy...
