New Delhi [India], July 19 (ANI): In a wider trend when stock prices of domestic technology majors are down by 2-2.7 per cent, One 97 Communications, the parent company that operates the brand Paytm, has seen an upward trend after the firm announced its financial results for the first quarter of FY 2025.
The share price of Paytm is trending beyond the Rs 451 mark, a 1.66 per cent rise during the day trade. Shares of One 97 Communications, closed at Rs 445.30 apiece at the end of day trade on Thursday.
While shares of its technology peers including Zomato and PB Fintech were down almost 2 per cent to Rs 216 and almost 3 per cent to Rs 1,412 apiece, respectively.
Paytm announced its financial results on Friday, reporting an operating revenue of Rs 1,502 crore, with Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) loss standing at Rs 792 crore. Net loss for the quarter stood at Rs 840 crore.
For the company, the full financial impact of the recent disruptions is visible in Q1 FY2025. The company also stated that revenue and profitability will improve, with growth in merchant payment operating metrics including GMV (gross merchandise value), accelerated merchant reactivation, and growing merchant base, along with the continued focus on cost optimisation.
The company has accelerated merchant reactivation and new sign-ups resulting in an increase in merchant subscriber base to 1.09 crore, with new merchant sign-ups and daily GMV rebounding to January levels. The customer base has stabilised to 7.8 crore with GMV per customer increasing, it said.
The company continues to have a strong balance sheet with Rs 8,108 crore of cash on books. (ANI)
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