One 97 Communications Limited — Investor Meet, 28-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Paytm's Q1FY26 earnings call reported 28% revenue growth, with financial services revenue at Rs 561 Cr. Contribution margin reached 60%, guided for high 50s. EBITDA margin is 4%, with a 15-20% target in 2-3 years, focusing on growth investments. Lending operations saw a significant shift to non-DLG loans, cutting costs, with merchant lending performing strongly. Payments, now profitable, expanded its full-stack POS business to over 1 million devices. Monthly transacting users grew due to retention. Future non-linear growth is expected from BNPL and Wallet product revival. The company remains "AI-first."