digital Shares of One97 Communications, the company operating the payment platform Paytm, jumped more than eight percent on Wednesday. Paytm's shares saw a rise after NPCI gave approval to Paytm to add new UPI users subject to adherence to all procedural guidelines and circulars. Shares of One97 Communications jumped 8.40 percent to close at Rs 745 on BSE. During trading it had increased by 12.21 percent to Rs 771.25. The company's shares rose 7.53 percent to Rs 738.20 on NSE. In this way the market valuation of the company increased by Rs 3,680.36 crore to Rs 47,436.58 crore.
Paytm got big relief
Getting the approval of National Payments Corporation of India (NPCI) is a matter of relief for Paytm. Earlier this year, Paytm suffered a major setback due to the Reserve Bank of India imposing restrictions on its associate company Paytm Payments Bank Limited (PPBL). Paytm informed BSE on Tuesday evening that it has received approval from NPCI to add new UPI users.
How was the company's result?
Paytm's parent company One97 Communications had a net profit of Rs 928.3 crore in the second quarter of the current financial year 2024-25. The company had suffered a loss of Rs 290.5 crore in the second quarter (July-September) of the financial year 2023-24. Giving information about its financial performance, Paytm said – Paytm's operating income declined by 34.1 percent on an annual basis to Rs 1,659.5 crore in the quarter under review. Paytm had a net profit (profit payable to owners of the parent company) of Rs 928.3 crore in the second quarter. This includes a profit of Rs 1,345 crore from the sale of entertainment ticketing business.
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