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Paytm Q2 result: Loss widens

Newsmantra — Sat, 27 Nov 2021 06:48:57 +0000

Paytm posted its result for the quarter ended September 30, 2021, on Saturday. The digital payments firm saw losses in Q2 increase to Rs 473 crore, up 24 percent sequentially and 8.5 percent annually, as expenses increased. as per CNBC tv 18 reports,

The company also saw a small dip in contribution margin to 23.9 percent, down from 27.4 percent in the June quarter. The contribution profit stood at Rs 260 crore, compared to Rs 244 crore in the earlier quarter.

Paytm’s revenue from operations for the second quarter of the fiscal jumped 63.6 percent to Rs 1,086.4 crore on a year-on-year (Y-o-Y) basis. It is 22 percent higher than the revenue of Rs 890.8 crore in the previous quarter.

Paytm’s contribution to profit was up as much as 592 percent Y-o-Y to Rs 260 crore due to monetisation of a large distribution base through high margin offerings such as lending, advertisements, and commerce offerings, the firm said in a regulatory filing.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) loss came in at Rs 452.4 crore, up from a loss of Rs 445.6 crore (YoY), and Rs 371 crore loss (QoQ).

Paytm announced the earnings for FY22 days after the stock of its parent firm One97 Communications Limited, made a weak debut in the secondary market on November 18.

Commenting on the result, Paytm said, “Revenues from Payment and Financial Services went up by 69 percent y-o-y to Rs 8,426 million, driven by 52 percent growth in non-UPI payment volumes (GMV) and growth from Financial Services and Other revenues by more than 3 times.”

The revenue from payment services to customers was up 54 percent Y-o-Y to Rs 3,53 crore, while revenue from payment services to merchants was up 64 percent Y-o-Y to Rs 400 crore.

The company’s marketing expense increased to Rs 185 crore, up 35 percent QoQ and 36 percent YoY. Its employee expenses also jumped to Rs 386 crore, up 10 percent QoQ.

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Sensex falls over 200 pts

Newsmantra — Thu, 11 Jun 2020 09:45:17 +0000

Equity benchmark Sensex tumbled over 200 points in early trade on Thursday dragged by losses in HDFC Bank, Reliance Industries, Infosys and Kotak Bank amid foreign fund outflows and weak global cues.

After touching a low of 34,010.86, the 30-share index was trading 214.42 points, or 0.63 per cent, lower at 34,032.63.

Similarly, NSE Nifty fell 57.90 points, or 0.57 per cent, to 10,058.25.

Shares of Vodafone Idea fell 10% on the stock exchanges, hitting the lower circuit, ahead of a Supreme Court hearing on the adjusted gross revenue (AGR) case. The hearing may include the government’s application that telecom firms be allowed to spread the payment of their dues over 20 years or less.

Sun Pharma was the top laggard in the Sensex pack, shedding around 2 per cent, followed by HDFC Bank, Titan, NTPC, Kotak Bank, TCS and Infosys.

On the other hand, IndusInd Bank, Hero MotoCorp, Nestle India and Axis Bank were among the gainers.

In the previous session, the BSE barometer settled 290.36 points, or 0.86 per cent, higher at 34,247.05, and the broader Nifty climbed 69.50 points, or 0.69 per cent, to 10,116.15.

On a net basis, foreign institutional investors sold equities worth Rs 919.26 crore in the capital market on Wednesday, provisional exchange data showed.

According to analysts, market started on a negative note amid foreign fund outflow and weak cues from global markets after US Federal Reserve policy outcome.

The US central bank on Wednesday cut its benchmark short-term rate to near zero, and said nearly all its policymakers foresee no rate hike through 2022.

It also said that it will keep buying bonds to maintain low borrowing rates and support a US economy mired in a deep recession with high unemployment.

Stock exchanges on Wall Street ended on a mixed note in overnight trade.

Bourses in Hong Kong, Tokyo and Seoul were in the red, while those in Shanghai were trading with gains.

International oil benchmark Brent crude futures fell 2.66 per cent to USD 40.62 per barrel.

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