M2P Fintech’s road to rediscovery has hit a bump. The partnership with Unity was one such setback. Unity has formally exited the company. Unity was by far the bigger customer. The setback hits M2P hard as one of the top fintech players in India, after raising capital from venture capital firms at improved valuations last year.
Paytm has turned an operational profit for the first time. On a revenue of Rs 1,470 crore, the company reported a profit of Rs 122.5 crore. This first ever truly profitable quarter will hearten public investors. Paytm was hit hard by the Reserve Bank of India shutting down Paytm Payments Bank and forcing the company to discontinue Paytm wallets in early 2024. The company has been on a steady mend since that wipeout.
Out to list. Pine Labs is a hardware business pretending to be a fintech. Pine Labs was injected with vast amounts of VC money. The hope was that the hardware would trade for higher multiples. The core of the company is its POS machines. Pine Labs has a strong core of large retail chains. The company is trying to grow with new products and in new regions.
The Zerodha cofounder attributes reduced market activity for the stockbroking business witnessing a 10-20% decline this year. Nithin Kamath expects the stockbroking business to see a 10-20% decline this year following lower market activity in the first quarter. Despite the slowdown, he expects Zerodha to cross Rs 10,000 crore in revenue in FY26. Zerodha reported a revenue of Rs 8,320 crore and a profit of Rs 4,700 crore in FY24, a 21% increase on the previous year. Kamath also reiterated that Zerodha is not considering listing on stock exchanges.
PB Fintech’s quarterly results were impressive, showing remarkable growth in revenue and a zoom in profits. However, the market’s reaction was subdued, and analysts are divided between buy and sell recommendations. Caution is needed because two of the leading products—Policybazaar and PaisaBazaar—yielded low margins. Furthermore, the credit business, especially unsecured lending, is slowing down following mandates from the Reserve Bank of India (RBI). Another risk is the potential for policy lapses leading to clawbacks on commissions already booked as revenue.
Lendingkart has undergone a major leadership churn since October 2024, set in motion by its key investor Fullerton Financial Holdings. The shake-up was intended to keep an eye on the cash-strapped fintech. There has been an exodus of senior executives, including Sandeep Somnani (Chief Officer) and Gautam Singhania (CFO). Co-founder Harshvardhan Lunia has also been kept out of the loop on major decisions, signaling Fullerton’s active takeover.
The year after the Reserve Bank of India’s (RBI) action against Paytm Payments Bank started hard for the company, threatening its operational existence. However, Paytm is showing signs of recovery. In the December quarter, its revenue came in at ₹1,901 crore. The company bagged the National Payments Corporation of India’s approval for a Third-Party Application Provider (TPAP) license, marking a key regulatory milestone. CEO Vijay Shekhar Sharma has emphasized compliance.
