e-commerce
Trading Steady 5paisa Keeps Its Balance in a Volatile Market
MUMBAI: In a market where momentum has been patchy, 5paisa Capital Limited has chosen consistency over drama. The digital brokerage firm reported unaudited consolidated results for the quarter and nine months ended December 31, 2025, showing resilient profitability despite softer topline momentum and higher operating costs. For the December quarter, total income stood at Rs 793.37 crore, compared with Rs 853.10 crore in the same period last year, reflecting lower fees and commission income amid changing market conditions.
Revenue from operations for the quarter came in at Rs 792.75 crore, with interest income of Rs 347.24 crore and fees and commission income of Rs 445.51 crore. While trading-led income moderated year-on-year, cost control helped cushion the impact. Total expenses for the quarter were contained at Rs 628.04 crore, resulting in a profit before tax of Rs 165.32 crore.
After accounting for tax expenses of Rs 42.33 crore, net profit for the quarter stood at Rs 122.99 crore, compared with Rs 161.77 crore a year earlier. Earnings per share for the quarter were reported at Rs 3.94 (basic) and Rs 3.93 (diluted).
For the nine months ended December 31, 2025, 5paisa posted total income of Rs 2,344.11 crore, down from Rs 2,884.39 crore in the corresponding period last year. Net profit for the nine-month period came in at Rs 333.30 crore, compared with Rs 581.67 crore in the year-ago period, mirroring a broader slowdown in retail trading activity.
Despite the moderation, the balance sheet remained healthy. As of December-end, the company reported a net worth of Rs 639.17 crore, with a debt-equity ratio of 0.45 times and a current ratio of 1.50 times, indicating comfortable liquidity. Operating margins for the period stood at 19 percent, while net profit margin was 14 percent, underscoring the firm’s ability to protect profitability in a tougher environment.
On a full-year basis, for the year ended March 31, 2025, 5paisa had reported a net profit of Rs 682.33 crore, providing a strong base despite the subsequent cooling off in market activity. The company’s earnings per share for the nine-month period were reported at Rs 10.67 (basic) and Rs 10.64 (diluted).
Commenting through the results announcement, 5paisa Capital Limited managing director and CEO Gaurav Seth signed off the numbers on January 13, 2026, as the brokerage continues to navigate a phase marked by cautious investor sentiment and recalibrated trading volumes.
While the headline numbers point to a softer year compared to the trading boom cycles of the past, 5paisa’s latest results suggest a business that remains profitable, well-capitalised and steady on its feet, even when the markets refuse to cooperate.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
