Paytm’s maiden profit; Eternal’s Rs 3 lakh crore m-cap

Also in the letter:
■ Qcomm fails to deliver
■ Stargate’s teething problems
■ Small towns, big compute

Paytm swings to first-ever profit in Q1 FY26

Paytm founder Vijay Shekhar Sharma

Paytm has turned in its first-ever quarterly profit, marking a milestone for its parent, One97 Communications. The company posted a net profit of Rs 122 crore in Q1 FY26, a sharp turnaround from a loss of Rs 839 crore a year ago, and Rs 540 crore in Q4 FY25. This…