One 97 Communications Ltd Share Price – NSE /  BSE

E-Commerce/App based Aggregator, Small Cap

The company reported net loss of Rs 292 crore in Q2 FY24 and a net loss of Rs 840 crore Q1 FY25.

Paytm's operating revenue for Q2 FY25 reached Rs 1,660 crore, marking an impressive 11% quarter-over-quarter (QoQ) increase. The contribution margin expanded to 54%, up from 50.44% in the previous quarter. This translated to a contribution profit of Rs 894 crore, a substantial 18% QoQ growth.

EBITDA before ESOP improved by Rs 359 crore QoQ to Rs -186 crore and the company remains committed to reach EBITDA before ESOP profitability by Q4 FY 2025.

During the quarter, the firm completed the transaction to sell its entertainment ticketing business to Zomato Limited. The final price, after working capital adjustments, was Rs 2,014 crore, leading to gains of Rs 1,345 crore, which is reported under the exceptional items inthe P&L. This transaction has resulted in further strengthening our balance sheet with a cash balance of Rs 9,999 crore.

Payment services revenue reached Rs 981 crore, a 9% increase from Q1 FY25. The net payment margin expanded to Rs 465 crore, up 21% QoQ. Gross merchandise value (GMV) processed through the Paytm platform reached Rs 4.5 lakh crore, a 5% QoQ increase.

The number of merchant subscribers for Paytm devices reached 1.12 crore as of September 2024, an increase of 3 lakh from the previous quarter. Financial services revenue was Rs 376 Cr, up 34% QoQ, on account of increase in collection bonus in merchant loans due to better asset quality trends, and higher share of merchant loans.

Paytm said it is prioritizing compliance, merchant payment innovation, customer acquisition, cross-selling financial services, and leveraging AI to reduce costs. This strategy aims to drive sustainable growth and profitability.

Shares of Paytm were currently down 3.85% at Rs 697.90. Paytm is India's leading mobile payments and financial services distribution company.

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Net profit of One 97 Communications reported to Rs 928.30 crore in the quarter ended September 2024 as against net loss of Rs 290.50 crore during the previous quarter ended September 2023. Sales declined 34.11% to Rs 1659.50 crore in the quarter ended September 2024 as against Rs 2518.60 crore during the previous quarter ended September 2023.

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One97 Communications will hold a meeting of the Board of Directors of the Company on 22 October 2024.

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One 97 Communications announced the deployment of 800 Paytm EDC devices (card machines) across 42 Krishi Mandis in Madhya Pradesh. This significant initiative empowers the traders and farmers at the Mandis by facilitating smoother and more secure transactions, thus enhancing the financial inclusivity and operational efficiency within the local agricultural community.

A Krishi Mandi is a marketplace, part of a state's Agricultural Marketing Board, for facilitating trade of agricultural produce from farmers. For the first time, the Krishi Mandi app in Madhya Pradesh has been integrated with Paytm EDC devices (card machines), marking a pivotal step in the digital transformation of agricultural sales. With the introduction of these devices, the time required to process agricultural sales, which previously spanned across days, has now been dramatically reduced to a few hours.

The devices serve multiple functions, enabling payments as well as creation of printed gate receipts and purchase orders. This comprehensive approach ensures that farmers and traders maintain both digital and physical records of their transactions, increasing transparency, trust and smoother transactions.

Paytm plans to continue expanding this service, with a goal to deploy an additional 1,300 card machines, across various Krishi Mandis over the next two years. This initiative reflects Paytm's commitment to addressing real-world challenges and enhancing digital empowerment in India's agricultural communities.

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