Paytm stock: Paytm Founder and CEO Vijay Shekhar Sharma has written a letter to the shareholders. In this, he has written that we are committed to make the fintech firm a profitable company. We believe our shares are well below the IPO price (Paytm IPO). But you rest assured. Paytm has a huge team, who are working to make it a profitable company. At the same time, we are committed to make the stock valuable over the long term. Let me tell you that my stock grant will be given to me only when our market cap crosses the level of IPO on a continuous basis.” Today Paytm shares are trading at Rs 637.40 with a gain of 4.65%. The issue price was Rs 2,150.
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What is the company’s plan?
Vijay Shekhar Sharma says we believe EBITDA should operate breakeven in next 6 quarters. As we will release our fiscal year 2022 financial results in due course, we are encouraged by the pace of our business, the scale of monetization and operational leverage. We are going to achieve this without compromising on any of our development plans.
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Company released operating performance
Sharing its update on the operating performance for the quarter ended March 2022, Paytm said that the number of loans disbursed through its platform grew by 374% to 6.5 million in the fourth quarter of FY 2022, while the value of loans disbursed increased by 374% to 6.5 million. A YoY growth of 417% has been observed to become Rs 3,553 crore. Meanwhile, Paytm’s total merchant payment volume (GMV) grew 104% YoY to ₹2.59 lakh crore. “Despite the impact of the festive season in the last quarter, we have seen strong quarter-on-quarter trends,” the fintech firm said in an exchange filing.