Paytm News: As a result of Reserve Financial institution of India (RBI) ban on UPI transactions and Paytm Cost Financial institution Restricted (PPBL), the lack of One97 Communication, the fintech firm working Paytm, elevated to Rs 550 crore within the fourth quarter of the monetary yr 2023-24. . Nevertheless, its loss within the fourth quarter of final yr was Rs 167.5 crore. Paytm is owned by One97 Communication.
Paytm's income declined by three %
An announcement issued by Paytm mentioned that our outcomes for the fourth quarter of economic yr 2023-24 have been affected by the momentary motion on UPI transactions and the everlasting disruption attributable to the ban on PPBL. Paytm recorded income of Rs 2,267 crore, a slight decline of three per cent on an annual foundation. Our revenue contribution was 57 % together with UPI incentives and 51 % excluding UPI incentives.
RBI imposed ban on 15 March 2024
Preserving in thoughts the curiosity of consumers together with retailers, the Reserve Financial institution of India (RBI) has prohibited Paytm Funds Financial institution Restricted (PPBL) from accepting deposits, credit score transactions or top-ups to any buyer's account, pockets and Fastag from March 15. Have utilized. The corporate mentioned that within the fourth quarter, the corporate wrote off funding of Rs 227 crore for 39 % stake in PPBL. Paytm's founder and chief government officer (CEO) Vijay Shekhar Sharma holds 51 % stake in PPBL.
Influence on earnings additionally
Within the data given to the inventory market, Paytm has mentioned that the earnings from operations within the fourth quarter declined by 2.8 % to Rs 2,267.1 crore, which was Rs 2,464.6 crore within the fourth quarter of final yr. On the identical time, the corporate's loss for all the monetary yr 2023-24 diminished to Rs 1,422.4 crore. The loss within the monetary yr 2022-23 was Rs 1,776.5 crore. Paytm's annual income elevated by about 25 % to Rs 9,978 crore from Rs 7,990.3 crore in 2022-23.
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The true impression can be seen within the quarter of June 2025
The corporate fears that the complete monetary impression of the disruption within the fourth quarter can be seen within the June 2025 quarter. The assertion mentioned that we count on a income of Rs 1,500-1,600 crore within the first quarter of the monetary yr 2024-25. In the meantime, Ripunjay Gaur, chief enterprise officer of offline funds, has been named because the senior administration personnel of the corporate.
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