Mumbai12 hours ago
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Paytm's parent company One 97 Communications has made a net profit of ₹ 930 crore in the second quarter of FY 2024-25, compared to a loss of ₹ 290.5 crore in the same period last year. There was a one-time contribution of ₹1,345 crore to the company's net profit.
Excluding the amount from the sale of movie ticketing business, Paytm has suffered a loss of ₹415 crore in this quarter, which is more than the loss recorded in the same quarter last year. The company has released the results of Q2FY25 i.e. July-September today (22 October).
Operational revenue decreased by 34% on annual basis
The company's operational revenue declined 34% to ₹1,660 crore from ₹2,519 crore in Q2FY25 compared to the previous year.
Rs 1,345 crore earned from selling movie ticketing business
Paytm had recently sold its movie ticketing business to Zomato. Due to Rs 1,345 crore received from this, Paytm has made a net profit of Rs 930 crore in the July-September quarter.
Both the companies had said in the exchange filing that the cash transaction has been approved by the boards of Zomato and Paytm on August 21 (Wednesday). Paytm wants to focus on its core financial services.
Paytm shares fell by 5.78%
Paytm shares fell 5.78% after the results were announced. It closed at the level of Rs 684. This stock has given a return of 4.98% in the last one month and 81.10% in the last 6 months. However, Paytm shares have given negative returns of 25.95% 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.
