Paytm share price rises over 3% after Q3 result; what should investors do?
Paytm share price rose over 3 per cent in early deals on the BSE on Saturday, January 20, a day after the company reported its December quarter scorecard. Paytm share price opened 2 per cent higher at ₹789.50 against the previous close of ₹773.90 and soon rose about 3 per cent to the level of ₹797.70. Around 9:20 am, the stock was 1.42 per cent up at ₹784.90 on the BSE.
One 97 Communications, the parent of Paytm, on Friday, announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise in revenue by 38 per cent to ₹2,850.5 crore, compared to ₹2,062.2 crore in the year-ago period, it said in a regulatory filing. Also Read: Reliance share price in focus after Q3 results 2024. Buy, sell, or hold? The digital payments firm said its consolidated net loss narrowed to ₹221 crore from ₹392 crore reported in the same quarter last financial year.
The firm has not posted a net profit since it went public in November 2021. However, Paytm reported a marginal increase of 13 per cent in revenue in every quarter, while the loss narrowed by 23 per cent. The online payments app said that it earned a revenue of ₹1,730 crore from its payment business, which is a growth of 45 per cent year on year (YoY).
Citing the reason for the growth, Paytm said that it was led by an increase in gross merchandise value (GMV) and higher subscription revenue. Also, the net payment margin improved further by 63 per cent to ₹748 crore in Q3FY24, YoY. Compared to ₹16,211 crore in the September quarter, Paytm disbursed total loans worth ₹15,535 crore for the quarter under review.
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