
Paytm shares jump 5% on healthy Q4 numbers; extend rally for 6th session
The net loss of the fintech major dropped to ₹168.4 crore in Q4FY23, against a loss of ₹761.4 crore in the same period of the previous year.
The net loss of the fintech major dropped to ₹168.4 crore in Q4FY23, against a loss of ₹761.4 crore in the same period of the previous year.
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.
Subscriptions for payment devices exceeded 5.5 mn, while average monthly transacting users on Paytm grew 33% to 84 mn. GMV was up 37% to ₹2.28 lakh cr.
Paytm’s number of loans grew 246% and disbursements rose 484% YoY; its super app's consumer engagement recorded 40% growth in July-Aug
99.67% of shareholders who voted approved Sharma's re-appointment, while 0.33% were against the resolution. Shareholders also approved his remuneration, with 94.48% in favour while 5.52% against it
Three key domestic voting advisory firms have opposed Sharma's reappointment for another term and remuneration decided for the position, asking shareholders to vote against the resolutions
Mumbai-based proxy advisor says the fintech firm boss made several commitments in the past to make the company profitable but they have not played out
Initially, One97 Communications will own 49% stake in Paytm General Insurance, while the remaining 51% stake would be held by VSS Holding, a company owned by Paytm MD Vijay Shekhar Sharma.
In the offline payments business, Paytm had 32 lakh devices deployed in stores as of April 2022, up from 9 lakh as of April 2021. User engagement on Paytm's super app rises 44% YoY.
Vijay Shekhar Sharma says the digital payments firm is aiming to be operationally profitable by September next year.