
Paytm’s payment volumes surge 40% YoY in March quarter; stocks surge
During the quarter under review, Paytm disbursed ₹12,554 crore loans to its lender partners, registering a growth of 253% YoY as against ₹3,553 crore in the same period last year.
During the quarter under review, Paytm disbursed ₹12,554 crore loans to its lender partners, registering a growth of 253% YoY as against ₹3,553 crore in the same period last year.
The Jack Ma-founded firm, which held 6.26% direct stake in Paytm as of December 2022, sold a partial 3.1% shares in January and the remaining 3.16% stake on February 10.
Paytm parent One97 Communications shares surged 35% in the last four sessions as investors cheered its December quarter earnings.
Paytm share price rallied 20% to hit an intra-day high of ₹669.60 on the BSE on Tuesday after some foreign brokerages recommended “Buy” rating on the stock.
During the quarter, the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) before ESOP improved by ₹452 crore YoY.
The board of Paytm has approved a share buy back plan at ₹810 apiece, a premium of 50% as compared to current market price, to encourage shareholders to sell the shares back to the company.
The Vijay Shekhar Sharma-led company's market capitalisation has fallen to ₹31,300 crore.
SoftBank Group, one of the biggest shareholders in One97 Communications, is looking to sell 29 million shares in the company at ₹555-₹601.45 apiece.
Paytm shares have wiped off 72% of investors' wealth since listing, falling from IPO price of ₹2,150 to an intraday low of ₹605.80 today.
The number of loans disbursed grew threefold by 224% on a year-on-year (y-o-y) basis to 9.2 million in the September quarter this year.