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Mint
21 minutes ago
- Business
- Mint
Paytm swings to ₹123 cr Q1 profit, aided by AI-led cost efficiency; rejigs board
Advertisement One97 Communications, Paytm's parent company, on Tuesday reported a net profit of ₹123 crore in the April-June quarter of FY26 (Q1FY26), buoyed by artificial intelligence-led improvements in its cost structure. This sharp turnaround comes after a ₹539.8 crore loss in the three months through March, driven mainly by a one-time exceptional expense of ₹492 crore from accelerated ESOP cost and an additional ₹30 crore in other impairments. Excluding these exceptional items, the adjusted loss had stood at ₹23 crore in Q4FY25. The Noida-based company's first-quarter results, announced in an exchange filing after market hours, mark a significant recovery from an ₹840 crore net loss in the June quarter of the previous fiscal year. Advertisement Shares of the company settled 3.4% higher at ₹1,052.60 apiece on the BSE on Tuesday. The company also reported a positive Ebitda (earnings before interest, taxes, depreciation, and amortization) of ₹72 crore in the quarter. 'This is the first quarter where we've reported pure Ebitda, without adjusting for ESOP costs. Going forward, we'll remove the ESOP line entirely, and report pure employee expenses,' Vijay Shekhar Sharma, Paytm founder and chief executive officer, said during an earnings call on Tuesday. Consolidated revenue from operations in Q1FY26 rose 28% year-on-year to ₹1,918 crore, helped by an increase in merchant subscription and growth in financial services revenue, the company added. Meanwhile, sequentially, the revenue remained almost flat. Advertisement 'Merchant payments, across both small and large online and offline enterprises, will remain a key focus, and we expect a lot of innovation in that area,' said Madhur Deora, president and group chief financial officer. 'While wallet and BNPL (buy now, pay later) are not immediate quarterly priorities, we are actively working on them. We will continue to grow our merchant lending business, while personal loan growth will depend on a broader recovery in the market.' Rahul Jain, director at Dolat Capital, noted that while Paytm has mentioned about focus on these products, no timelines were provided for some new product initiatives. 'Growth for now will be led by merchant payments and merchant loans.' The company also announced a rejig of its board. Deora will step down from the board after the upcoming AGM but will continue in his role as the company's finance head. Advertisement 'Operating responsibilities are far more important for now, especially with our future growth line items, they're all geared towards consistent profitability from the same core businesses, international expansion,' said Sharma. He added that Deora's focus will, hence, shift towards active business decisions and growth opportunities. The board also appointed Urvashi Sahai, currently Paytm's General Counsel, as a Whole-time Director for a five-year term starting 22 July. Independent Director Bimal Julka also resigned, citing a desire to focus on interests in emerging technologies and ease of doing business. Forward looking plans Overall, analysts believe the company has shown recovery across financial metrics. Dolat Capital's Jain said, 'The results were better on all fronts, with strong profitability driven by steady growth, efficient cost management, and improved execution.' Advertisement Paytm earns most of its revenue from payments, financial, and marketing services. Payment services revenue (including other operating revenue) rose 23% YoY to ₹1,110 crore. Net payment revenue increased 38% YoY to ₹529 crore due to a rise in payment processing margin and device additions, the company said. For incremental revenue, while the company had expressed optimism in the last quarter about monetising its UPI services if the government re-introduced the Merchant Discount Rate (MDR), that potential revenue lever for the payments business now appears to be off the table. In June, finance minister Nirmala Sitharaman clarified that no MDR will be levied on transactions via the Unified Payments Interface (UPI), putting to rest earlier industry speculation that large merchants might soon be subject to the charge again. Advertisement This policy clarity may impact Paytm's plans to drive incremental revenue through UPI monetisation. 'We will see what happens as and when we get informed. We are not basing our business on some distant hope of the future. We are committed to continue to drive profitable business even without it,' said Sharma. In October last year, National Payments Corporation of India had allowed Paytm to onboard users on its UPI platform through partner banks, after the RBI barred Paytm Payments Bank from onboarding new customers due to compliance concerns. Revenue from financial services rose to ₹561 crore, up 3% quarter-on-quarter from ₹545 crore. This revenue also doubled year on year from ₹280 crore, led by merchant loan disbursements and improved collections from the default loss guarantee (DLG) portfolio. However, a shift to non-DLG disbursements by its largest lending partner is expected to slow sequential revenue growth even as disbursements rise. Advertisement Under DLG, Paytm gives a guarantee to its lending partners for a portion of the loans it facilitates in case of a default. The overall financial services customer count increased slightly in the quarter to 560,000. 'There is no significant recovery in terms of personal loans, the mix of merchant and personal loans remains the same as of last quarter,' said Deora.
Mint
an hour ago
- Business
- Mint
Sawan Shivratri 2025: Are schools, colleges, banks open or closed on Wednesday, July 23? Check here
Sawan Shivratri 2025: Sawan Shivratri is a significant Hindu festival celebrated during Shravan in the Hindu lunar calendar and dedicated to Lord Shiva. It occurs on the 14th day of the waxing moon phase in the Shravan month. This year, it falls on Wednesday, 23 July 2025, while the Shivaratri Parana takes place at 5:53 am on 24 July 2025. Sawan Shivratri is observed through fasting, prayer, and rituals such as Abhishekam of the Shiva lingam with sacred substances. It is believed that this festival purifies the soul and fulfils wishes. On this day, most public offices, schools, and other institutions are expected to be closed to mark the festival. According to the Reserve Bank of India holiday calendar, all banks across the country will remain open on Wednesday, July 23, 2025. Customers can access all banking services at their nearest bank branches on the occasion of Sawan Shivratri. The Indian stock market will open on Wednesday, July 23, 2025, according to the holiday calendar of NSE and BSE. Hence, the Indian stock market is not closed on Sawan Shivratri. Schools and colleges in multiple states, such as Uttar Pradesh, Madhya Pradesh, Uttarakhand, and Haryana, will reportedly be closed on Wednesday, July 23, 2025, due to Sawan Shivratri and Kanwar Yatra. Notably, no official announcement has been made regarding school closures in Punjab. Therefore, schools will remain open on July 23. There is no holiday for Sawan Shivratri in Telangana; however, a statewide bandh on July 23 may result in school closures. Most government offices across the country are expected to remain open on Wednesday, July 23 2025, as it is not designated as a gazetted holiday by the central government.
Mint
an hour ago
- Business
- Mint
IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue
IndiQube Spaces IPO: Workplace solutions provider IndiQube Spaces completed its anchor investor round on Tuesday, July 22, 2025. The company raised over ₹ 314 crore from anchor investors ahead of its initial public offering (IPO). IndiQube Spaces allocated a total of 1,32,62,658 equity shares or 1.32 crore equity shares to the anchor investors at an allocation price of ₹ 237 per share, the company informed BSE in an exchange filing. Of the total equity shares allocated to the anchor investors, 8,932,571 shares were assigned to 8 domestic mutual funds across 21 schemes. Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV & WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund & Malabar Midcap Fund are some of the key anchor investors who were allocated equity shares. Additionally, Max New York Life Insurance, Edelweiss MF, Baroda BNP Paribas, TOCU Europe III S.A R.L., Groww Mutual Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius Private Limited, and Societe Generale were also allotted equity shares. Notably, WestBridge Capital, along with group companies Aravali Investment Holdings, WestBridge AIF I, Konark Trust, and MMPL Trust, has a pre-offer shareholding of 27.95 per cent in the company and is not diluting any stake. On Tuesday, July 22, the grey market premium (GMP) of Indiqube Spaces IPO stood at ₹ 23 per share at 8:36 pm. With the upper price band at ₹ 237 per share, the shares of the company are expected to be listed at ₹ 260, with a premium of 9.7 per cent, according to data from Investorgain. Indiqube Spaces has set the price band for the public issue at ₹ 225 to ₹ 237 per equity share. The company aims to raise ₹ 700 crore from this public offer, of which ₹ 50 crore is reserved for offer for sale (OFS). The remaining ₹ 650 crore will be raised through the issuance of fresh shares. In fiscal 2025, IndiQube reported a total income of Rs1,103 crore and a CAGR of 35 per cent from fiscal 2023. The company's EBITDA stood at ₹ 660 crore with a return on capital employed (RoCE) of 34.21 per cent.
Mint
an hour ago
- Business
- Mint
ideaForge Q1 Results: Drone-maker posts ₹23.5 crore net loss, revenue tanks 85%YoY. Details here
ideaForge Q1 results: The drone-making company ideaForge announced the results for the April to June quarter of the financial year 2025-26 on Tuesday, 22 July 2025. The company reported a ₹ 23.5 crore net loss in the first quarter of the 2025-26 fiscal year, compared year-on-year (YoY) to ₹ 1.1 crore net profit in the same quarter of the previous year. The company's revenue from operations dropped by 85.1% to ₹ 12.7 crore in the April-June quarter of the current fiscal, compared to ₹ 86.2 crore in the same period a year ago. ideaForge's total expenses for the first quarter of the financial year 2025-26 dropped 53% to ₹ 42 crore, compared to its ₹ 90.6 crore levels in the same quarter the previous fiscal year. ideaForge shares closed 0.73% lower at ₹ 544.45 after Tuesday's stock market session, compared to ₹ 548.45 at the previous market close. The company announced its first-quarter results after stock market operating hours on 22 July 2025. According to BSE data, the drone company's shares hit their 52-week high at ₹ 864 on 29 July 2025, while the 52-week low was at ₹ 301 on 7 April 2025. The company's market capitalisation (M-Cap) was at ₹ 2,352.27 crore as of the stock market close on Tuesday, 22 July 2025. ideaForge shares have lost 58.15% since it was listed on the Indian stock market in July 2023. The stock is also down 33.50% in the last one-year period. On a year-to-date (YTD) basis, the shares are down 13.19% in 2025, and are currently trading 3.71% lower on the Indian bourses.
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Business Standard
2 hours ago
- Business
- Business Standard
The Revenge of Badla: How early 2000s market shifts fuel Jane Street case
The Badla system was a hybrid cash & futures trading product. It was offered on the BSE, and had been an age-old system for trading on margin Shankar Sharma Listen to This Article I woke up that morning in February of year 2000, with a particularly bad attack of the 'imposter syndrome'. This syndrome should strike most people who make some quick riches at the casino/races/ lottery/ stock market. But it rarely does. I was in my mid-30s. That's a particularly dangerous age to get dangerously rich and I was exactly in that hot zone. All my tech stocks had been flying long and hard (back then, at the height of the tech boom, long term was defined as six months). I made myself a quiet cup of coffee, lit a cigar, and
