Paytm reported a consolidated net profit of 220 crore rupees for the first quarter of the fiscal year 2026–27 (Q1FY27). This figure showed a growth of 79 percent compared to the same period last year (Q1FY26), when the profit was 123 crore rupees. Furthermore, the sequential growth in net profit was 19.5 percent compared to the fourth quarter of the fiscal year 2026 (Q4FY26), when it reached 184 crore rupees.
The Noida-based fintech company generated operating revenue of 2,448 crore rupees in Q1FY27. This represents an increase of 27.6 percent compared to 1,918 crore rupees in Q1FY26. Quarter-over-quarter, revenue grew by 8.1 percent relative to 2,264 crore rupees. The company's other income decreased by 24.5 percent to 182 crore rupees in Q1FY27, compared to 241 crore rupees in Q1FY26, although the sequential growth was a slight 2.2 percent from 178 crore rupees in Q4FY26.
The company's total expenses in Q1FY27 reached 2,383 crore rupees, which is 18.2 percent more than 2,016 crore rupees in Q1FY26. Sequential expense growth was 5 percent compared to 2,269 crore rupees. Payment processing costs accounted for over one-third of total expenses in Q1FY27, increasing by 36 percent year-on-year to 794 crore rupees.
The Paytm Board of Directors reviewed a proposal for an additional share issuance but decided to reject it. The company stated in its exchange filing that after careful analysis of the proposal from the perspective of long-term shareholder value, the board concluded that the company should continue to focus on further increasing growth and profitability to create shareholder value, and therefore decided not to advance this proposal at this time.
Additionally, the board approved a plan to approach shareholders to request approval to change the use of remaining Initial Public Offering (IPO) funds. The unused 1,686 crore rupees are planned to be used to finance customer and seller acquisition, as well as new business initiatives, acquisitions, and strategic partnerships, extending the usage period until March 31, 2029. The company also plans to invest an additional 100 crore rupees in its wholly-owned subsidiary, Paytm Money, subject to obtaining necessary approvals, to support growth and business requirements, including technology investments, regulatory capital requirements, and expansion of investment and wealth management business.
The public sector lender Indian Overseas Bank (IOB) reported a significant increase in net profit of 49.3 percent year-on-year on Monday. Over the three months ending in June 2026, the bank earned 1,659 crore rupees, which was attributed to an improvement in asset quality.
In the same quarter last year, the bank had recorded a net profit of 1,111 crore rupees. According to the report submitted to the stock exchange system, total income for the period from April to June increased to 10,938 crore rupees compared to 8,866.47 crore rupees the previous year.
The bank's asset quality showed positive momentum. The Gross Non-Performing Assets (GNPA) ratio decreased to 1.33 percent for the June quarter of fiscal year 27, down from 1.97 percent the previous year. Similarly, Net NPA reduced to 0.18 percent from the previous 0.32 percent.
Furthermore, provisions amounted to 834 crore rupees in the quarter under review, which remained almost unchanged compared to 844 crore rupees the previous year, although this is less than the 1,006 crore rupees recorded in the March quarter. At the time of afternoon trading, IOB shares were trading 4.11 percent higher on the BSE, reaching the mark of 35.2 rupees.
HCLTech reported a 20.3 percent increase in net profit in the first quarter compared to the previous year, reaching 4,624 crore rupees. Meanwhile, revenue for the reporting period increased by 13.9 percent to 34,579 crore rupees.
Both these figures surpassed Bloomberg's forecasts, which estimated profit at 4,530 crore rupees with revenue at 34,327 crore rupees. The company's growth was driven by the financial services, manufacturing, and technology and services sectors.
As the third-largest IT services provider in India, HCLTech intends to follow the example of its major competitor Tata Consultancy Services (TCS) and allocate 3,500 crore rupees to enter the artificial intelligence data center market. This capacity is planned to be scaled up to 50 MW.
CEO and Managing Director C Vijayakumar stated in a release that the combination of AI-driven demand, supply constraints, and the pursuit of digital sovereignty creates a favorable opportunity for the company to become a provider of comprehensive AI-based solutions. He noted that entering the AI data center sphere will allow the company to leverage the full potential of this opportunity amid the industry's shift from physical infrastructure to higher-value, AI-ready solutions.
In addition to increasing data center capacity, HCLTech aims to offer end-to-end services, including infrastructure, GPUs, models and applications, as well as providing managed services and outcome-based contracts for clients.
Following recent investments by HCLTech in Sarvam, an Indian sovereign language model developer, amounting to $150 million, the company will be able to offer its models to clients. Vijayakumar emphasized that the true value lies in Small Language Models (SLMs), which are deeply trained on the language, data, and workflows of a single industry or client, making them faster, more cost-effective, and accurate.
IT service providers in India are seeking various ways to increase revenue as traditional business faces pressure from the impact of AI, and low macroeconomic sentiment restricts discretionary spending, while the geopolitical situation remains unstable. Although the data center business requires significant capital expenditure and is capital-intensive for an industry that was traditionally low-capital, an alternative path is acquiring firms with niche capabilities.
Vijayakumar reported that the investments will be made through a combination of debt and equity, but he did not disclose details about a potential partner. He mentioned that TCS collaborated with TPG last year to create the HyperVault data center joint venture with $2 billion in investment. He also stated at a press conference on Monday that they are close to signing the first guaranteed capacity contract.
HCLTech's revenue from advanced AI reached $171 million as of the end of the first quarter, which is 10.6 percent higher compared to the previous quarter at constant currency. Advanced AI includes areas such as industry-specific AI solutions, AI engineering, agentic AI, physical AI, AI factory, and the company's proprietary intellectual property (IP). Classical AI, machine learning, and Robotic Process Automation (RPA) technologies are excluded.
Biswajit Maity, Senior Lead Analyst at Gartner, noted that the quality and scale of recent deals enhance revenue predictability and strengthen confidence in the company's ability to translate strategic investments into sustainable long-term growth.
As of June 30, the company's workforce decreased by 3,292 people, totaling 223,889 employees. The employee turnover rate was 12.7 percent, and new hiring dropped to 1,056 people from 1,984 in the same period last year.
HR Director Ramachandran Sundararajan stated that new hiring will follow last year's trends, with a preference given to elite, niche engineers who can join the Field Deployment Engineers (FDE) cohort over the next three years.
The public sector bank Indian Bank, based in Chennai, announced a 10% increase in net profit for the first quarter of the current fiscal year, reaching INR 3,273 crore. In the same quarter of the previous fiscal year, the profit was INR 2,973 crore.
According to the report submitted to the regulator, the bank's total income for the June quarter of 2026-27 increased to INR 20,724 crore compared to INR 18,721 crore in the corresponding period of FY 26. Interest income also improved, amounting to INR 18,090 crore versus INR 16,283 crore a year earlier.
Net Interest Income (NII) grew by 17%, reaching INR 7,435 crore compared to INR 6,359 crore in the June quarter of FY 26. Furthermore, the bank's operating profit rose to INR 5,557 crore from INR 4,770 crore recorded in the same quarter last year.
The bank demonstrated an improvement in asset quality: Gross Non-Performing Assets (NPA) decreased to 1.86% of total loans by the end of June, down from 3.01% a year earlier. Similarly, Net NPAs, or bad loans, reduced to 0.15% compared to 0.18% in the previous year.
As a result of these changes, provisions for bad loans were reduced to INR 376 crore in the first quarter, down from INR 387 crore a year ago. The Provision Coverage Ratio (PCR) remained unchanged at 98.2% during the quarter.
The Return on Assets (ROA) improved to 1.34% for June 2026, whereas it was 1.03% in June 2025. Meanwhile, the bank's capital adequacy ratio decreased to 17.80% from 17.99% in the same quarter of FY 26.
