Paytm shares gain 10% after 41% surge in Q3 revenue comes as a ‘surprise’

In a letter to shareholders, Paytm founder and CEO Vijay Shekhar Sharma said that the company had achieved operating profitability in Q3, which is three quarters ahead of the guidance which was for the September quarter.

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Shares of One 97 Communications, the parent company of Paytm, climbed on February 7 after the company’s December quarter earnings performance enthused investors.

As of 11.55am, the stock traded up 10 percent at Rs 613 on the BSE.

Paytm’s revenue surged 41 percent to Rs 2,062 crore in the December quarter (Q3), compared to the year-ago period, while net loss narrowed to Rs 392 crore, according to a regulatory filing.

The digital payments and financial services company’s loss in the corresponding period last year was Rs 778 crore, whereas it stood at Rs 572 crore in the September quarter, Paytm said.