Paytm Q4 results : Fintech company One 97 Communications’ loss increased to Rs 550 crore in the fourth quarter of FY 2023-24. The loss was Rs 167.5 crore in the same period last year. One97 Communications owns the Paytm brand. The company said in a stock exchange information on Wednesday that operating income declined by 2.8 percent to Rs 2,267.1. It was Rs 2,464.6 crore in the same period last year. The company’s loss in the entire financial year 2023-24 reduced to Rs 1,422.4 crore. The loss in the financial year 2022-23 was Rs 1,776.5 crore. Paytm’s annual revenue grew by about 25 percent to Rs 9,978 crore, from Rs 7,990.3 crore in 2022-23.
RBI had imposed restrictions on PPBL
Keeping in mind the interest of customers including merchants, the Reserve Bank of India (RBI) barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups to any customer account, wallet and Fastag from March 15. Is. Paytm had estimated a loss of Rs 300-500 crore due to the RBI ban on PPBL.
Share price drop
Shares of Paytm Payments Bank were seen trading with a slight decline on Wednesday afternoon. Shares of Paytm’s parent company One97 Communications were seen trading at Rs 349, down 0.78 per cent or Rs 2.75 on BSE. The stock reached a maximum of Rs 356.90 and a minimum of Rs 344.65 in early trade today. The 52 week high of Paytm shares is Rs 998.30. Whereas, 52 week low is Rs 310. The market cap of the company appeared at Rs 22,211.41 crore on BSE on Wednesday afternoon. The PE of this stock stands at -19.92 and PB is 1.79. Whereas, ROE is -8.97. Paytm’s shares have fallen 46 percent so far this year.
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