Page 27 - Paytm

Green shoots of profitability finally emerging among Startups in India

Many companies such as Zomato, Meesho, and MobiKwik have now turned profitable while others like Paytm, Delhivery, and Zepto have showcased a clear path to profitability

India's startups add gains of $400 mn to SoftBank's Vision Fund in Q1

In the quarter ending March 2023, these four listed startups in SoftBank's portfolio together added over $100 million to the Vision Fund

PwC resigns as Paytm Payments Services' auditor, SR Batliboi appointed

Paytm added that the statutory auditors have not raised any concerns or issues and that the company has noted PwC's resignation

Paytm founder set to acquire 10.3 per cent stake in the company from Antfin

The no-cash deal will make Sharma the largest shareholder in the company

One97 Communications shares jump nearly 7% as Sharma buys Paytm stake

Shares of fintech firm One97 Communications jumped nearly 7 per cent on Monday, following news that its founder and CEO Vijay Shekhar Sharma will acquire 10.30 per cent stake in Paytm from Antfin (Netherlands) Holding BV, through an off-market transfer in a no-cash deal. The stock of Paytm's parent firm climbed 6.95 per cent to settle at Rs 850.75 apiece on the BSE. During the day, it zoomed 11.57 per cent to Rs 887.55. On the NSE, it rallied 6.82 per cent to end at Rs 851 per share. During the day, it jumped 11.43 per cent to Rs 887.70. The company's market valuation advanced Rs 3,511.4 crore to Rs 53,957.14 crore. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma. As per the deal, Sharma will purchase 10.30 per cent shareholding in Paytm from Antfin through his 100 per cent owned overseas entity -- Resilient Asset Management BV. Resilient Asset in return will issue debt instrument OCDs (optionally convertible debentures) to ...

Paytm rallies 12% as Vijay Shekhar Sharma buys 10.3% stake from Antfin

On closing of this transaction, Sharma's shareholding in Paytm (direct and indirect) will increase to 19.42 per cent, whereas Antfin's shareholding will reduce to 13.5 per cent

Vijay Shekhar Sharma to buy a 10.3% stake in Paytm from Antfin for $628 mn

After the transaction, Sharma's stake in the company will rise to 19.42%, and Antfin will cease to be the largest shareholder of Paytm

Paytm up 4% as loan disbursements more-than-double in July to Rs 5,194 cr

During the month of July, Paytm catered to 93 million average monthly transacting users (MTU), up 19 per cent year-on-year (YoY)

Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL

Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24

Fintech firm Paytm's average monthly users increase by 19% to 9.3 crore

Fintech company Paytm on Thursday said its average monthly users rose by 19 per cent on-year to 9.3 crore. Merchant subscriptions stood at 82 lakhs, with 41 lakh new subscriptions over the year, according to the filing. Sequentially, the company saw merchant subscriptions increase by about 4 lakh in July 2023, Paytm said in a filing. Payment volumes for merchants or Gross Merchandise Values (GMV) rose 39 per cent on-year at Rs 1.47 lakh crore. "We continue to see increase in GMV of non-UPI instruments like EMI and cards. We are focused on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential," the company said. The fintech platform said it doled out 43 lakh loans in the month of July, making the total value of loans distributed in the month to Rs 5194 crore, at a whopping yearly growth of 148 per cent. The company will discontinue monthly disclosures of operating metrics starting September 2023, since their business

Paytm Chief Vijay Shekhar seeks PLI scheme for payment segment devices

Fintech company One97 Communications, which operates under the Paytm brand, wants the government to bring payment segment devices under the production-linked incentive scheme to boost local production, a top company official said on Monday. Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones. While announcing the launch of two new models of payment soundboxes, Sharma said that India is a services-dominated country and there is a need to go towards manufacturing for job creation. Making software in India and importing devices from China to operate -- it is depriving the country of full advantage of the technology, he added. "Paytm soundboxes are completely made in India. We have done indigenisation of soundboxes. As we all know, we are under pressure from one new thing. When soundboxes come from overseas, duty is not levied on them but we are requi

Paytm e-comm partners with NCCF, ONDC to sell tomatoes at Rs 70/kg in Delhi

Paytm E-commerce Pvt Ltd (PEPL) on Tuesday said it has partnered with ONDC and NCCF to sell tomatoes at Rs 70 per kg in Delhi-NCR. On behalf of the central government, co-operatives National Cooperative Consumers Federation (NCCF) and NAFED are already selling tomatoes at Rs 70 per kg to retail consumers through mobile vans in Delhi-NCR and a few select cities. In a statement, PEPL said it will sell "tomatoes (at) Rs 70 per kilogram through National Cooperative Consumers Federation (NCCF) for users in Delhi-NCR on Paytm ONDC." With this, users can only buy two kgs of tomatoes at Rs 140 per week with free delivery through ONDC on the Paytm app. This move will benefit the users as retail prices of tomatoes in some cities have crossed Rs 200 per kg, the statement said. The company spokesperson said, "The rising prices of a kitchen essential like tomato has been affecting many across the country. With this collaboration between NCCF and ONDC, our users in Delhi-NCR can now easily get

Paytm's Q1 earnings may be a blip; analysts positive on the stock

Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore

Stocks to Watch: RIL, ICICI Bank, Paytm, IGL, Biocon, YES Bank, Cyient DLM

Stocks to Watch on July 24, 2023: Tata Steel, HDFC AMC, Canara Bank, IDBI Bank, TVS Motor will announce their Q1 results today

More room for players in fintech space: Paytm CEO Vijay Shekhar Sharma

Comments come after Jio Financial Services' entry into lending space

Paytm to generate free cash flow by year end, says CEO Vijay Shekhar

Fintech firm One97 Communications, which operates under the Paytm brand, expects to generate free cash flow by the end of this year, a top company official said on Saturday. Paytm founder and CEO Vijay Shekhar Sharma, in an earnings call, said that growth for the company in the June 2023 quarter came on account of expansion in payments, financial services and commerce business. "We are on our committed guidelines of becoming free cash flow positive by the year-end," Sharma said. Paytm has reported a narrowing of loss to Rs 358.4 crore in the first quarter ended June 30, 2023. The company had posted a loss of Rs 645.4 crore in the same period a year ago. Its revenue from operations increased by 39.4 per cent to Rs 2,341.6 crore during the reported quarter from Rs 1,679.6 crore in the June 2022 quarter. The company said its merchant payments volume (GMV) grew 37 per cent year-on-year to Rs 4.05 lakh crore in the April-June quarter of FY 2023-24. Sharing an update on the RBI's bar

Top headlines: RIL Q1 net falls 11% on weak O2C biz, GST evasion, and more

Business Standard brings you the top headlines at this hour

Paytm Q1 results: Loss narrows to Rs 358.4 crore, revenue jumps 39.4%

Fintech firm One97 Communications, which operates under the Paytm brand, on Friday reported the narrowing of loss to Rs 358.4 crore in the April-June quarter of this fiscal. The company had posted a loss of Rs 645.4 crore in the same period a year ago. The revenue from operations of the company increased by 39.4 per cent to Rs 2,341.6 crore during the reported quarter from Rs 1,679.6 crore in June 2022 quarter.

Stocks to watch: L&T Tech, Paytm, Rallis India, Piramal Pharma, NMDC

Stocks to watch on July 19, 2023: From Paytm to Piramal Pharma, here are the top stocks to watch in Wednesday's trading session

Startups have obligation to take India's flag to other countries: Paytm CEO

Startups have an obligation to take the Indian flag to other countries, founder and CEO of Paytm Vijay Shekhar Sharma said on Tuesday. "Right now we have reached the stage in the startup ecosystem where the mature companies should start to think that which countries we can export to, if we could export for our IT services," Sharma said at an event by the PHD Chamber of Commerce and Industry. Sharing his optimism about the rising global presence of Indian startups, Sharma said that he aspires for an anti-trust regulation by America and other nations on an Indian company. "I really wish in my lifetime that America is thinking of sanctioning us...multiple countries, and then you go for negotiations - don't do it!," he said. He also spoke on value creation for startups, the divide between traditional industries and startups and the next phase of generative technology and AI. Announcing that AI-first offerings will be in the forefront of operations, Sharma termed AI as the "biggest ...