Paytm shares zoom on lower net loss for Dec quarter

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February 6, 2023
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Paytm managed to achieve operating profitability three quarters ahead of its guidance.

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Shares of One97 Communications, which operates digital payments app Paytm, shot up on February 6 after the company managed to lower its consolidated net loss during the quarter ended December 2022.

The digital payments operator’s revenue surged 41 percent on-year in the October-December period to Rs 2,062 crore, aided by a rise in merchant subscriptions to payment devices and loan disbursals.

Supported by the strong growth in its topline, the company’s net loss also narrowed to Rs 392 crore in the December quarter, as against Rs 778 crore a year ago.

Adding to that, the company’s EBITDA before deducting employee stock option (ESOP) cost, a proxy metric used by new-age companies to define operating profitability, was at Rs 31 crore for the reporting quarter.

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