New Delhi: One97 Communication’s shares which run digital payments and financial service platform Paytm rose to 5% at the time of early trade on Monday after the firm declared its strong performance in March 2023.
The shares of Paytm rose 5 per cent to Rs.725.60 on Monday, which earlier stood at Rs.708 at 9.50 am having a market cap of more than Rs.44,750 crore.
Paytm’s net loss fell to Rs.168 crore from Rs.761 crore the previous year, and Rs.392 a quarter ago.
The financial platform reported an EBITDA before ESOP costs, as well as its UPI incentive for Q4, to Rs 101 crore in comparison to Rs.368 crore in Q4 of FY22.
What company had to say?
The company made revelations about its revenue growth, saying that it happened because of an increase in gross merchandise value (GMV), higher merchant subscription revenues and growth of loans that were distributed from the company’s platform. GMV in the March quarter shot up 40 per cent to Rs.3.62 lakh crore YoY, whereas merchant subscriptions doubled than before.
Company’s numbers
Recently, Paytm announced a 51 per cent jump in revenue from operations which stood at Rs.2,334 crore in Q4FY23 on a YoY basis. However, the overall revenue in FY23 grew by 61 per cent to Rs.7,990 crore. The firm reportedly reduced its net loss in Q4 to Rs.168 crore from Rs.761 crore a year back.
After seeing the firm’s operational performance and sound Q4 numbers, brokerage firms most of them are giving thumbs up to Paytm’s shares.
Observers are quoting its sturdy business momentum and improved metrics to turn money-making. Most of them are suggesting buying Shares of Paytm with an upward potential of up to 81 per cent from its previous close.
