Paytm Q2FY25 profit slumps 97% to Rs 21 crore on real-money gaming ban; revenue up 24%

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Digital payments major rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm reported a net profit of Rs 21 crore in the September quarter, down 97% from Rs 930 crore in the same period last year. The sharp decline was due to a Rs 190-crore impairment loss on its investment in rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm First Games, a joint venture with rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>One97 Communications, following the government’s ban on real-money gaming applications.

In the year-ago quarter, Paytm had reported a large profit on account of the sale of its ticketing business to rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” target=”_blank”>Zomato, which resulted in a one-time gain.

The Noida-headquartered company’s…



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Paytm Q2FY25 profit slumps 97% to Rs 21 crore on real-money gaming ban; revenue up 24%



Digital payments major rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm reported a net profit of Rs 21 crore in the September quarter, down 97% from Rs 930 crore in the same period last year. The sharp decline was due to a Rs 190-crore impairment loss on its investment in rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>Paytm First Games, a joint venture with rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” target=”_blank”>One97 Communications, following the government’s ban on real-money gaming applications.

In the year-ago quarter, Paytm had reported a large profit on account of the sale of its ticketing business to rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” target=”_blank”>Zomato, which resulted in a one-time gain.

The Noida-headquartered company’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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