New Delhi: Paytm parent One 97 Communications Ltd said it is not in talks of a stake sale with billionaire Gautam Adani. The clarification came after reports were doing rounds that Gautam Adani, the chairman of Adani Group, is in talks with Paytm founder Vijay Shekhar Sharma to acquire a stake.
“We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard,” Paytm was quoted by Reuters as saying. The fintech said it has always made sure that it will continue to make disclosures in compliance with the obligations under
Securities and Exchange Board of India (SEBI).
ToI reported that Paytm founder and CEO Vijay Shekhar Sharma met Gautam Adani at the Adani Group chairman’s office in Ahmedabad on May 28, 2204 to deliberate on the ‘deal’.
Paytm shares hit the 5 percent upper circuit in early trade today morning. The stock was trading at Rs 359.45 at 10:41 am on May 29.
Paytm Results 2024
In its Q4 Results 2024, the company said it achieved first full year of EBITDA
before ESOP profitability (since IPO) of Rs 559 crore. In its financial papers, it mentioned of demonstrating strong revenue momentum (up 25 per cent) and continued focus on profitability (EBITDA before ESOP margin up by 8 per cent), in spite of regulatory action on our associate entity, Paytm Payment Bank Ltd (PPBL).
Paytm FY 2024 Results Highlights
Paytm reported revenue of Rs 9,978 crore, 25 per cent growth
Contribution profit up 42 per cent to Rs 5,538 crore (margin of 56 per cent, up 7 percentage point)
EBITDA before ESOP of ₹559 Cr (up ₹734 Cr), EBITDA margin at 6% (up 8 percentage point)
The fintech informed that the Revenue from Payment services increased 26 per cent to Rs 6,235 crore, while the Net payment margin went north by 50 per cent to Rs 2,955 crore. Merchant paying subscription for devices reached 1.07 crore as of March 2024, an increase of 39 lakh, it added.
Paytm parent One 97 Communications Ltd said it is not in talks of a stake sale with billionaire Gautam Adani. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
