Paytm Share Price Today: Paytm’s share price rose over 5% on Wednesday after the company got approval to onboard new users for its UPI application. Shares of Paytm rose 5.12 per cent to Rs 722.50 on BSE. The brokerage firm has maintained ‘Add’ rating with a DCF-based Paytm share price target of Rs 750.
The stock market opened with a decline even today. Meanwhile, Paytm shares opened at Rs 720 on NSE and reached the day’s high of Rs 728.90. However, around 9:50 am they were trading at Rs 707.20, up 3 percent.
RBI had banned
Earlier this year, the Reserve Bank of India (RBI) had banned Paytm Payments Bank Ltd (PPBL) from onboarding new UPI users on the Paytm app. Now fintech major Paytm’s parent company One97 Communications said that the National Payments Corporation of India has given its approval to the company to onboard new Unified Payments Interface (UPI) users following the procedural guidelines and circulars of NPCI. .
Also read: Big relief to Paytm, got approval from NPCI to add new UPI users.
The way is clear to accelerate the user base again.
The latest approval has been given by NPCI in response to a request by Vijay Shekhar Sharma, Founder and CEO of One 97 Communications, to lift the ban on August 1. Analysts said NPCI’s approval paves the way for revival of its user base.
Anand Dama, senior research analyst at Emkay Global Financial Services Ltd, told Live Mint, “Paytm has finally got NPCI’s approval to add new UPI users, which will help it revive its declining user base and ease the regulatory stance. Gives signal.
The results of the second quarter were like this
Paytm also reported its earnings for Q2FY25. Paytm parent One97 Communications reported a net profit of ₹930 crore in the September quarter, benefiting from a one-time extraordinary gain of ₹1,345 crore from the sale of its entertainment ticketing business.
The company said it achieved 11% quarter-on-quarter (QoQ) revenue growth due to 5% QoQ growth in GMV, better realization from appliances and 34% QoQ growth in revenue from financial services.
losses reduced
Anand Dama said Paytm reported a lower pre-ESOP loss of Rs 1.8 billion (from a loss of Rs 5.5 billion in Q1), mainly due to continued cost optimisation, driven by ESOP cost reduction and the sale of the entertainment business. The company’s first PAT delivery stood at Rs 9.3 billion due to one-time gain.
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