Mumbai2 minutes ago
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The net loss of Paytm’s parent company One 97 Communications has reduced to Rs 208 crore in the third quarter (October-December) of the financial year 2024-25. Paytm’s loss in the same quarter a year ago was Rs 220 crore.
The company’s revenue fell 36% to Rs 1,828 crore in the October-December quarter. It was Rs 2,850 crore in the same quarter a year ago, i.e., Q3FY24. The money received from selling goods and services is revenue.
Paytm had a net profit of ₹930 crore in the second quarter, with the sale of movie ticketing business making a one-time contribution of ₹1,345 crore to the company’s net profit. Excluding this amount, Paytm had a loss of ₹415 crore.
Paytm’s share doubled in 6 months
After the announcement of the results, Paytm shares are trading marginally higher. Paytm shares are up 0.46% to near Rs 900. This stock has given a return of -4.38% in the last one month and 99% in the last 6 months. Paytm shares have given a return of 19% in the last 1 year.
Paytm was started in 2009
Paytm’s parent company One97 Communications launched the Paytm payment app in August 2009. Its founder is Vijay Shekhar Sharma. Currently, Paytm has more than 30 crore users in the country. The market cap of Paytm is around Rs 28 thousand crores.
