Daijiworld Media Network – New Delhi
New Delhi, Nov 14: Shares of Paytm parent company One 97 Communications touched a fresh 52-week high on Friday after its wholly owned subsidiary, Paytm Payments Services Limited (PPSL), received in-principle authorisation from the Reserve Bank of India (RBI) to issue and operate prepaid payment instruments (PPIs) in India.
In an exchange filing, the company said PPSL received a letter dated November 13, 2026, from the RBI's Department of Payment and Settlement Systems, granting the in-principle authorisation under the Payment and Settlement Systems Act, 2007.
The approval is subject to compliance with the RBI's Master Directions on Prepaid Payment Instruments dated August 27, 2021, as updated from time to time.
The development is significant as PPSL had earlier applied for a licence to offer wallet services. Following final authorisation and the issuance of a certificate of authorisation, the subsidiary will be able to offer prepaid instruments, including digital wallets, to customers.
Following the announcement, Paytm shares recovered from early losses and touched an intraday high of Rs 1,958.80, surpassing their previous closing price of Rs 1,923.05. The stock had opened at Rs 1,922.
Meanwhile, One 97 Communications reported a strong financial performance for the September quarter of FY27, with its profit after tax rising more than tenfold to Rs 225 crore from Rs 21 crore in the corresponding quarter last year. This marked the company's sixth consecutive profitable quarter.
Operating revenue increased 28 per cent year-on-year to Rs 2,648 crore, supported by growth in merchant and consumer businesses, improved monetisation and increased adoption of artificial intelligence.
EBITDA rose 90 per cent year-on-year to a record Rs 270 crore, while the EBITDA margin expanded to 10 per cent, crossing double digits for the first time.
For the first half of FY27, profit after tax more than tripled to Rs 445 crore from Rs 144 crore in the corresponding period last year.
Payment services revenue grew 25 per cent year-on-year to Rs 1,434 crore, while net payment revenue increased 21 per cent on a comparable basis to Rs 644 crore.