Paytm Q3 results: Net loss narrows to Rs 392 crore and revenue rises 42%

February 4, 2023

, By Team SNFYI

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Digital payments app Paytm’s parent One 97 Communications Ltd, reported a nearly 50% decrease in consolidated loss to Rs 392 crore in the quarter ended December 31, 2022, compared to a loss of Rs 778.5 crore the previous year.

The revenue from operations of the SoftBank-backed firm increased 42% to Rs 2,062 crore in Q3FY23 from Rs 1,456 crore in Q3FY22. Paytm’s stock closed nearly 3% lower on the BSE on Friday, at Rs 530. The company said it exceeded its EBITDA profitability before ESOP costs by three quarters and reported EBITDA before ESOP of Rs 31 crore in Q3FY23. “Paytm is a company that was built from the ground up with a strong belief in Digital India. In ten years, we went from releasing our first app to becoming a verb in India to reaching an operating EBITDA profitability milestone “CEO Vijay Shekhar Sharma stated on Twitter.

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Paytm Q3 results: Net loss narrows to Rs 392 crore and revenue rises 42%

February 4, 2023

, By Team SNFYI

Digital payments app Paytm’s parent One 97 Communications Ltd, reported a nearly 50% decrease in consolidated loss to Rs 392 crore in the quarter ended December 31, 2022, compared to a loss of Rs 778.5 crore the previous year.

The revenue from operations of the SoftBank-backed firm increased 42% to Rs 2,062 crore in Q3FY23 from Rs 1,456 crore in Q3FY22. Paytm’s stock closed nearly 3% lower on the BSE on Friday, at Rs 530. The company said it exceeded its EBITDA profitability before ESOP costs by three quarters and reported EBITDA before ESOP of Rs 31 crore in Q3FY23. “Paytm is a company that was built from the ground up with a strong belief in Digital India. In ten years, we went from releasing our first app to becoming a verb in India to reaching an operating EBITDA profitability milestone “CEO Vijay Shekhar Sharma stated on Twitter.

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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India to levy a retroactive tax on Amazon for cloud service fees paid to the United States

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Nigerian clean tech startup SunFi raised $2.325 million in seed funding

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