paytm q2 results, investors beware! Paytm revenue increases in Q2, read detailed details – paytm q2 results investors be alert net loss widens to 571.5 crores, share price below ipo issue
India’s largest fintech company posted a net loss of Rs 644.4 crore in the June quarter, compared to a net loss of Rs 481 crore in the second quarter of the previous fiscal. Also, Paytm’s consolidated operating income (revenue) grew by 76 per cent to Rs 1,914 crore in the September quarter of financial year 2022-23 from Rs. 1,086.4 crores.
An increase in revenue is a good sign
The company attributed the revenue growth to an increase in merchant subscriptions, an increase in bill payments due to increased MTU and an increase in loan disbursements through our platform. Which is a good sign. At the same time, revenue from financial services and other businesses was Rs 349 crore, representing a year-on-year growth of 293%.
Earlier, Paytm had reported a 17 percent rise in annual loan disbursements to Rs 34,000 crore in September. The company does business under the brand name Paytm. The company said that in August 2022, the annual rate of loan disbursement was Rs. 29 thousand crore. While the total number of loans disbursed by Paytm increased to around 92 lakh in the September quarter, from 28.41 lakh a year ago.
Shares 70 percent below IPO price
Meanwhile, Paytm’s stock was listed at Rs 1,955 as against its issue price of Rs 2,150 on November 18. On the day of listing, it fell by 27 percent to close at Rs 1,564. Besides, on Monday, November 7, it closed at Rs 652. That is, it has fallen by 70 percent compared to the issue price. Paytm’s IPO was in November last year, and its issue price was fixed at Rs 2,150. Paytm’s shares have not been able to touch its issue price till date and are continuously falling. Currently the share price is Rs.652.