Stock Market Today: Paytm (One 97 Communications Ltd) reported net loss at ₹840 crore . Net loss widened from ₹550 crore in the previous quarter and ₹338 Crore in the year-ago quarter
The same however was close to analysts expectations. Analysts at Motilal Oswal Financial Services had expected Paytm to report net loss of ₹840 crore.
Paytm (One 97 Communication share price gained up to 2% in the intraday trades post the results.
Paytm revenues from operations at ₹1,502 crore 36% year on year from ₹2,342 crore in the June’2023 quarter. The revenue from operations also was down 34% sequentially compared to ₹2,267 crore in the previous quarter
Payments & Financial Services revenues at ₹1,164 declined 37% sequentially from ₹2,267 crore in the March’2024 quarter and wered own 39% year on year too compared to ₹2,342 crore in the year ago quarter.
Payment Services to Consumers , to merchants and to others at ₹83 crore ₹801 crore and ₹280 crore respectively declined 81%, 28% and 18% sequentialy respectively.