Paytm Q2 Results Preview: One 97 Com Earnings Call Today; BofA Expects 28% Revenue Growth, 76% Profit Jump

One 97 Communications Ltd, the parent company of Paytm, is set to announce its financial results for the September quarter of FY27 on Monday, October 26, 2026. Investors will be watching the earnings announcement for signs of sustained growth in payments, stronger merchant monetisation and further improvement in profitability.

Paytm Q2 Results Today: What To Expect From One 97 Communications Earnings Call on 26 October 2026

Ahead of the results, Bank of America (BofA) is expecting the digital payments company to report higher revenue and improved margins. The brokerage's estimates point to continued operating progress, with earnings potentially growing faster than revenue as the company benefits from better cost management and increasing business volumes.

Paytm Q2 Results Preview: Revenue at Rs 2,641 Crore, Net Profit May Jump 76% YoY

BofA expects Paytm to generate Rs 2,641 crore in revenue for the July-September quarter. That would represent a 28% increase from the year-earlier period and an 8% rise over Q1 FY27, when the company recorded revenue of Rs 2,448 crore.

The profit forecast is more upbeat. The brokerage estimates net income of Rs 271 crore, which would be 76% higher year-on-year and 23% above the Rs 220 crore reported in the June quarter.

For operating earnings, BofA has projected EBITDA of Rs 263 crore, an increase of 86% from a year earlier. It expects the EBITDA margin to reach 10%, improving by 166 basis points sequentially. Lower fixed costs are expected to help the company retain more of its incremental revenue as profit.

Payments Business: GMV and Soundbox Additions in Focus

The payments division is expected to remain a major contributor to the quarter's performance. BofA forecasts a 31% year-on-year increase in payments revenue and an 8% sequential rise in gross merchandise value (GMV), which measures the total value of transactions processed through the platform.

The brokerage also expects Paytm to add approximately five lakh Soundbox devices during the quarter. These devices provide merchants with audio confirmations of incoming payments and help the company maintain its presence among small businesses and offline retailers.

For Paytm, the importance of Soundbox extends beyond transaction processing. A wider merchant network creates opportunities to generate recurring subscription income and strengthen relationships with businesses that use its payment services. The quarterly results should provide a clearer indication of whether this network is supporting further monetisation.

BofA has identified market-share gains in UPI and improved merchant monetisation as potential sources of upside. However, investors should distinguish between expected benefits and revenue already realised. The timing of the proposed merchant discount rate (MDR) framework is particularly relevant: subsequent reporting indicated that implementation had been deferred until after Diwali, meaning the expected benefit may not flow into Q2 revenue.

Financial Services Could Be Paytm's Faster-Growing Segment

BofA expects revenue from financial services to increase 44% year-on-year in Q2 FY27. Merchant lending is projected to contribute significantly, while consumer lending is also showing signs of expansion from a smaller base, according to the brokerage.

Paytm distributes credit products through partnerships with regulated financial institutions. This allows it to earn income from facilitating loan distribution without directly carrying the associated loans on its own balance sheet. The model can support growth while limiting direct balance-sheet exposure, although its performance still depends on borrower demand, lending partners and credit quality.

Paytm Commerce and Cloud Services Revenue May Recover 7% QoQ

BofA has also forecast a 7% quarter-on-quarter recovery in Paytm's commerce and cloud services business. Improvement in this segment could provide an additional contribution to revenue and reduce reliance on payments and financial services alone.

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