Paytm: Well-known finance startup Paytm has had a significant setback. Let us inform you that during the January-March quarter, Paytm lost Rs 550 crore. After the results were revealed, Paytm shares saw a decrease. It is interesting that the RBI prohibited Paytm Payment Bank transactions in March of this year.
Paytm Grapples with Significant Financial Setback
It is thought that Paytm has incurred significant losses as a result of this. According to reports, Paytm’s operational revenue dropped from Rs 2464.6 crore to Rs 2267.1 crore in the fourth quarter of the 2024 fiscal year compared to the 2023 fiscal year.
Paytm Achieves First Full Year of EBITDA in FY 2024
Giving information in a letter on its social media platform X, Paytm said that FY 2024 has been a historic year for the company, as we have achieved our first full year of EBITDA. For the full year since its IPO, when the company went public, before the ESOP. Its EBITDA was Rs 559 crore. Paytm projects revenue to grow by 25% in 2023- 24. Vijay Shekhar Sharma gave information.
He wrote, “I am happy to share that we have successfully transitioned our core payments business from PPBL to other partner banks. This move de-risks our business model and also opens up new opportunities for long term monitization, given our platform’s strength around customer and merchant engagement.”
Reports Rs 550 Crore Loss in Q4
Well-known finance startup Paytm has had a significant setback. Let me inform you that during the January-March quarter, Paytm lost Rs 550 crore. After the results were revealed, Paytm shares saw a decrease. It is interesting that the RBI prohibited Paytm Payment Bank transactions in March of this year. It is thought that Paytm has incurred significant losses as a result of this. According to reports, Paytm’s operational revenue dropped from Rs 2464.6 crore to Rs 2267.1 crore in the fourth quarter of the 2024 fiscal year compared to the 2023 fiscal year.