Paytm Statistics 2026: Users, Revenue and Growth

Paytm reported 8 crore monthly transacting users for the quarter ending June 2026, up 60 lakh year-on-year. The user count is what most people search for. It is no longer the number that explains the company. One 97 Communications, the listed parent behind the Paytm brand, closed FY26 with operating revenue of ₹8,437 crore, up 22% year-on-year, and profit after tax of ₹552 crore in its first full year of profit.

Two shifts sit underneath that turn. Merchant device subscriptions reached 1.57 crore in Q1 FY27, according to Paytm investor relations, and domestic investors now hold a majority 50.3% stake in the company. The five-quarter profit ladder below, plus quarterly tables for revenue, merchant devices, payment volumes, financial services and shareholding, traces to One 97 Communications’ own disclosures.

Key Takeaways

• Monthly transacting users climbed to 8 crore in the June 2026 quarter, up 60 lakh from the year-ago quarter.
• FY26 delivered One 97 Communications’ first full year of profit, with profit after tax of ₹552 crore.
• EBITDA margin doubled to 8% in Q1 FY27 from 4% in the same quarter a year earlier.
• Merchant device subscriptions grew by 27 lakh over twelve months, the same net addition pace recorded in the two prior quarters.
• Financial services revenue grew 45% year-on-year in Q1 FY27, faster than payments.
• Profit After Tax has printed for five straight quarters, running ₹123 crore, ₹21 crore, ₹225 crore, ₹183 crore, then ₹220 crore.
• Domestic institutional ownership rose to 23.1%, up from 14.0% a year earlier.

Editor’s Choice

• Operating revenue reached ₹2,448 crore in Q1 FY27.
• Quarterly EBITDA hit ₹203 crore, the highest Paytm has reported.
• Merchant gross merchandise value reached ₹7.1 lakh crore in a single quarter.
• Consumer UPI gross transaction value reached ₹5.9 lakh crore, growing at 2.2 times the industry rate.
• FY26 operating revenue totaled ₹8,437 crore.
• Contribution profit reached ₹1,350 crore at a 55% contribution margin.

How Many People Use Paytm in India

• Monthly transacting users increased by 60 lakh year-on-year to reach 8 crore in Q1 FY27.
• Average monthly transacting users stood at 7.6 crore in Q3 FY26, an increase of 60 lakh year-on-year.
• Monthly transacting users increased by 50 lakh year-on-year to 7.7 crore in Q4 FY26.
• Key financial services customers grew 34% year-on-year to 7.6 lakh.
• Financial services customers rose 36% year-on-year in Q4 FY26, from 5.5 lakh to 7.5 lakh.
• Customers using financial services through the platform increased from 5.9 lakh to 7.1 lakh year-on-year in Q3 FY26.

Source: Paytm investor relations, Q1 FY27 (June 2026 quarter)

Every figure above comes from One 97 Communications’ own quarterly disclosure, not a third-party estimate. That distinction matters here, because monthly transacting users and registered users are different measures, and the company reports the former. Competing statistics pages still quote registered-user totals that appear nowhere in the disclosures cited on this page.

How many Paytm users are there in India?

Paytm reports 8 crore monthly transacting users, which is 80 million people transacting in a typical month during the June 2026 quarter. The company no longer publishes a cumulative registered-user total, so any “350 million users” figure circulating online traces to disclosures that predate the current reporting format and should not be read as a current active-user count.

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Paytm Revenue by Quarter

• Operating revenue increased 28% year-on-year to ₹2,448 crore in Q1 FY27.
• Comparable operating revenue, excluding the Payments Infrastructure Development Fund impact, increased 31% year-on-year to ₹2,440 crore.
• Q4 FY26 operating revenue rose 26% year-on-year on a comparable basis and 18% on a reported basis.
• Q3 FY26 operating revenue rose 20% year-on-year to ₹2,194 crore.
• Payment services revenue, including other operating revenue, was up 21% year-on-year to ₹1,284 crore in Q3 FY26.
• Net payment revenue increased to ₹601 crore in Q1 FY27, up 13% year-on-year on a reported basis and 25% on a comparable basis.

The revenue line reads Paytm’s recovery better than the user count does, per Paytm investor relations. Across CoinLaw’s coverage of more than 100 payment-platform statistics pages, revenue per transacting user is the metric that separates a durable payments franchise from a subsidy-funded one, and Paytm’s revenue is now growing faster than its user base. The same monetisation pattern shows up in UPI transaction data at industry level.

Recent Developments

• July 2026: Paytm reported Q1 FY27 results with operating revenue of ₹2,448 crore and profit after tax of ₹220 crore.
• June 2026: Consolidated cash balance stood at ₹13,529 crore, up ₹657 crore year-on-year.
• May 2026: FY26 closed with operating revenue of ₹8,437 crore and profit after tax of ₹552 crore, the first full year of profit.
• May 2026: EBITDA improved by ₹2,008 crore year-on-year to ₹502 crore for FY26.
• April 2026: The shareholding pattern for the quarter ended March 31, 2026 showed domestic investors holding a majority 50.3% stake.
• March 2026: Subscription merchants reached 1.51 crore, with 27 lakh net additions year-on-year.

Paytm Profit After Tax by Quarter

• Profit after tax rose 79% year-on-year to ₹220 crore in Q1 FY27.
• Q3 FY26 profit after tax of ₹225 crore was an improvement of ₹433 crore year-on-year.
• Paytm recorded profit after tax of ₹123 crore in Q1 FY26 and ₹21 crore in Q2 FY26.
• Profit after tax for the quarter ended March 31, 2026 stood at ₹183 crore.
• Q3 FY26 marked the third consecutive profitable quarter.
• FY26 profit after tax reached ₹552 crore, marking full-year profitability.

The five-quarter series shows a dip rather than a straight line. That Q2 FY26 trough matters more than the headline: a company that holds profitability through a weak quarter is running a different business from one that posts a single profitable print, and the subsequent three quarters confirmed which of the two Paytm had become.

Paytm EBITDA and Operating Margin

• Q1 FY27 EBITDA reached ₹203 crore, the highest quarterly figure Paytm has reported.
• EBITDA margin improved to 8% from 4% in the year-ago quarter.
• Q3 FY26 EBITDA reached ₹156 crore at a 7% EBITDA margin, an improvement of ₹379 crore year-on-year.
• Q4 FY26 EBITDA stood at ₹132 crore, an improvement of ₹330 crore year-on-year on a comparable basis.

Paytm Merchant Base and Device Subscriptions

• Merchants paying for Paytm payment devices increased to 1.57 crore, an addition of 27 lakh merchants over the past year.
• Merchant device subscriptions reached 1.44 crore in Q3 FY26, an increase of 27 lakh year-on-year.
• Payment processing margin remained comfortably above 4 basis points.
• Net payment revenue was up 25% year-on-year at ₹613 crore in Q3 FY26.
• Expanding mobile payments into the hinterlands of India was challenging, but now it is well established, and users are also willing to pay for subscriptions because of the value proposition. said founder and chief executive Vijay Shekhar Sharma on the Q3 FY26 earnings call.

By the numbers: Paytm added 27 lakh paying device merchants in each of the twelve-month windows ending December 2025, March 2026 and June 2026, according to One 97 Communications quarterly disclosures. That steadiness, rather than any single quarter’s spike, is what turns hardware subscriptions into a predictable recurring-revenue line.

Device subscriptions and the QR code payments that preceded them share one economic property: the merchant pays whether or not a transaction settles that day.

Paytm Merchant GMV and Consumer UPI Volume

• Merchant gross merchandise value increased 31% year-on-year to ₹7.1 lakh crore in Q1 FY27.
• Merchant gross merchandise value growth accelerated sequentially to 27% year-on-year in Q4 FY26, reaching ₹6.5 lakh crore.
• Consumer UPI gross transaction value increased 45% year-on-year to ₹5.9 lakh crore.
• Consumer UPI gross transaction value grew 46% year-on-year to ₹5.5 lakh crore in Q4 FY26.

Source: One 97 Communications quarterly results, Q4 FY26 and Q1 FY27

Both volume lines grew, but they answer different questions. Merchant gross merchandise value measures what Paytm’s acceptance network processes for businesses, while consumer UPI gross transaction value measures what Paytm’s own app users send. Readers comparing this to gateway economics will find the split handled differently in Razorpay payment gateway statistics.

Paytm UPI Growth Against the Industry

• Consumer UPI gross transaction value grew at 2.2 times the industry growth rate in Q1 FY27.
• Q4 FY26 consumer UPI gross transaction value grew at 2.2 times the industry growth rate of 21%.
• Consumer UPI gross merchandise value grew 35% over the last nine months against industry gross merchandise value growth of 16%.
• Paytm gained UPI consumer market share every single month for the past year.

Worth noting: Paytm’s chief financial officer Madhur Deora told the Q4 FY26 earnings call that market share gains were significantly outpacing monthly transacting user growth. Read against the 50 lakh user addition in the same quarter, the implication is that per-user volume, not headcount, carried the share gain.

Growth measured against an industry baseline behaves differently from growth measured in isolation, a distinction that also shapes Alipay vs WeChat Pay market share in China’s duopoly.

Paytm Financial Services Revenue and Customers

• Financial services revenue increased 45% year-on-year to ₹814 crore in Q1 FY27.
• Financial services revenue rose 38% year-on-year to ₹750 crore in Q4 FY26.
• Financial services distribution revenue grew 34% year-on-year to ₹672 crore in Q3 FY26.
• FY26 financial services revenue grew 52% year-on-year to ₹2,593 crore.
• Repeat borrowers contributed more than 50% of disbursements during Q4 FY26.

Paytm distributes these products rather than lending from its own balance sheet, which is why the line scales with partner appetite. On the Q2 FY26 earnings call, Sharma said We’re expanding our financial services by adding stock brokerage, and eventually, insurance will be a part of this offering as well. The brokerage push places Paytm alongside the platforms tracked in retail investing statistics.

Paytm Contribution Profit and Cost Structure

• Contribution profit increased 17% year-on-year to ₹1,350 crore, with contribution margin at 55%.
• Q4 FY26 contribution profit reached ₹1,254 crore, up 31% year-on-year on a comparable basis, with contribution margin at 55%.
• Q3 FY26 contribution profit stood at ₹1,249 crore, up 30% year-on-year, with a contribution margin of 57%.
• Indirect expenses declined 8% year-on-year to ₹1,092 crore in Q3 FY26.

Who Owns Paytm Today

• Domestic investors hold a majority 50.3% stake in One 97 Communications Limited.
• Domestic institutional ownership rose to 23.1%, up from 20.3% in the previous quarter and 14.0% a year ago.
• Indian mutual funds hold 16.6%, with 41 mutual funds invested.
• Insurance companies hold a 5.1% stake.
• The company qualifies as an Indian Owned and Controlled Company because majority ownership and control lie with Indian shareholders.

Source: One 97 Communications shareholding pattern, quarter ended March 31, 2026

Domestic holders outside mutual funds and insurers account for 28.6% of equity, and overseas and other investors hold the remaining 49.7%.

Key finding: One 97 Communications disclosed domestic institutional ownership at 23.1% for the quarter ended March 2026, up from 14.0% a year earlier. The classification that follows from crossing 50.3% domestic ownership is regulatory rather than cosmetic, because Indian ownership and control determine which licensed activities a payments group may hold directly.

This is the section every competing Paytm statistics page omits, and it is the one that most changes how the company should be read: an ownership base rotating from overseas capital to Indian mutual funds and insurers changes both the shareholder register’s behaviour and the regulatory perimeter the group operates inside.

Paytm Cash Balance and Balance Sheet Strength

• Consolidated cash balance stood at ₹13,529 crore as of June 2026, up ₹657 crore year-on-year.
• Cash balance stood at ₹12,882 crore as of the quarter ending December 2025.

The cash position gives Paytm room to fund the expansion Sharma described on the Q4 FY26 call, when he said Agentic is a renewed opportunity for Paytm to gain market share across a number of categories. A mobile wallet business with this much unrestricted cash can absorb a product cycle that does not monetise immediately.

Paytm FY26 Annual Financial Summary

• FY26 operating revenue reached ₹8,437 crore, up 22% year-on-year.
• FY26 EBITDA improved by ₹2,008 crore year-on-year to ₹502 crore.
• FY26 profit after tax reached ₹552 crore.
• FY26 financial services revenue reached ₹2,593 crore.

Source: One 97 Communications FY26 results, May 2026

The full statements sit in One 97 Communications’ quarterly and annual results archive, with the audited detail in the annual report library.

Is Paytm doing well?

Paytm’s disclosed financials improved on every headline measure through FY26 and into FY27. The company reported its first full year of profit in FY26 with profit after tax of ₹552 crore. Operating revenue then grew 28% year-on-year in the June 2026 quarter while EBITDA margin improved to 8% from 4%.

Growth is broad rather than concentrated in one line. Merchant volumes, consumer UPI volumes and financial services revenue all rose year-on-year in Q1 FY27, and the cash balance increased over the same twelve months. The open question is durability rather than direction, since three of the four growth engines depend on partner banks and lenders whose appetite Paytm does not control.

Who owns the largest stake in Paytm?

One 97 Communications does not name a single largest shareholder in the ownership note reviewed here. What it does disclose is the composition: domestic investors hold 50.3% in aggregate, of which domestic institutional investors account for 23.1%, Indian mutual funds for 16.6% across 41 funds, and insurance companies for 5.1%.

Founder Vijay Shekhar Sharma is named among the Indian investors in the company’s own description of its shareholder base, alongside institutional investors, retail investors, mutual funds and insurers. For a precise holder-by-holder split, the quarterly shareholding pattern filed with the exchanges is the document to read rather than any secondary summary.

Conclusion

Paytm’s 8 crore monthly transacting users are the number readers search for, but FY26 profit after tax of ₹552 crore explains the business better. FY26 operating revenue of ₹8,437 crore was up 22% year-on-year. Domestic investors hold 50.3% of the company. Across CoinLaw’s payments coverage, monetisation ahead of headcount is the ordering that separated the platforms surviving India’s fintech consolidation from those that did not.

The next data points to watch are whether merchant device additions hold their pace beyond the three consecutive quarters at 27 lakh, and whether domestic institutional ownership continues the climb from 14.0% to 23.1% recorded over the past year.