VerSe valuation sinks; Paytm Q2 profit rises

VerSe Innovation, the parent company of news aggregator Dailyhunt, saw its valuation plummet nearly 90% to $576 million in August, according to Baillie Gifford. This sharp decline follows a staggering 90% drop from its $5 billion peak in 2022. The fund attributed the markdowns to company-specific execution challenges and the revaluation of comparable listed companies. VerSe's operating revenue fell by 40% to Rs 1,162 crore in FY26, while its net loss narrowed by 28% to Rs 699 crore.

Meanwhile, digital payments platform Paytm reported a remarkable turnaround in the July-September quarter, with net profit surging tenfold to Rs 225 crore. Revenue increased by 28% year-over-year to Rs 2,648 crore. Operating leverage improvements and better cost management contributed to the impressive result. The company also anticipates a potential margin boost of around 2.5 basis points on merchant discount rates (MDR) for select UPI transactions, as it continues to integrate AI into its operations.