Paytm shares jump after surprise Q3 operating profit, narrowing loss
Shares of One 97 Communications Ltd (Paytm) rose as much as 7.4% on the BSE to ₹563 apiece in Monday’s opening deals after the fintech company posted its first-ever quarterly operating profit as a listed firm and the company’s losses also narrowed during the third quarter of the current fiscal (Q3 FY23).
Paytm’s net loss in the quarter through December narrowed to ₹392 crore as compared to ₹779 crore a year earlier whereas the leading digital payments brand’s revenue from operations rose 42% to ₹2,062 crore.
“I am very happy to share that our company has achieved this milestone of EBITDA before ESOP cost profitability in the December 2022 quarter itself. This is three quarters ahead of our guidance,” said founder and Chief Executive Officer (CEO) Vijay Shekhar Sharma in a statement.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.