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Profit surged on a low base as paid volume rose 26.6% while average spend fell about 11%. Management deflected on pricing, conversion, market share and capital returns.
Q2 FY27 revenue INR 1,348 Mn (+17.6% YoY), EBITDA INR 303 Mn (22.5% margin), PAT INR 207 Mn (+167.3%). Zero-debt balance sheet; no explicit guidance.