Paytm shares up 38% in last six months
The stock has gained 38 per cent in the last six months even though it is still far from its 52-week high of ₹844.40, hit on August 8, 2022
One 97 Communications (Paytm) shares have been on a bull run for the last six months.
The stock has gained 38 per cent in the last six months even though it is still far from its 52-week high of ₹844.40, hit on August 8, 2022. On a monthly basis, the stock has been in the green since December 2022.
Paytm shares fell almost a per cent in morning trade on BSE on Tuesday (May 6), following a half a per cent fall in the previous session even as the company reported its business updates for the month of May.
Analysts and brokerage firms are positive about the long-term prospects of the company as its May month's business updates and January-March quarter earnings beat expectations.
Paytm, in a BSE filing on Monday (June 5), said it continued witnessing the expansion of the consumer base with average monthly transacting users (MTU) at 9.2 crore for the quarter to date (average for April and May 2023), up 24 per cent year-on-year (YoY).
Paytm's consolidated net loss narrowed sharply to ₹168.4 crore in the fourth quarter of FY23, compared to a loss of ₹761.4 crore in Q4 of the previous year.
The performance was aided by increased GMV, higher merchant subscription revenues, growth of loans disbursed, and full years’ UPI incentives reported during the quarter.
Its revenue from operations stood at ₹2,334.5 crore in Q4FY23, registering a growth of 51.5 per cent from ₹1,540.9 crore in Q4FY22 and up by 13.2 per cent from ₹2,062.2 crore.
