Paytm Q1 Profit Jumps 79%: Bonus Delayed & Will MDR Trigger The Next Stock Rally?

Paytm reported a strong Q1 performance with net profit rising 79% year-on-year to ₹220 crore, reflecting improving business momentum. However, the company surprised investors by deferring its much-awaited bonus share announcement, keeping the market cautious. The bigger trigger now remains the implementation of Merchant Discount Rate (MDR), which could significantly improve Paytm’s earnings outlook. Dharmesh Kant, Head of Equity Research, Chola Securities, says the company has successfully rebuilt its earnings trajectory after past regulatory challenges. He believes any major upside in the stock will depend on the return of MDR, as much of Paytm’s near-term growth expectations are already reflected in its current valuation. Watch for expert insights on Paytm’s future outlook.