Latest News | Paytm Expects to Turn Profitable from Next Quarter: Vijay Shekhar Sharma

New Delhi, May 6 (PTI) Fintech firm One97 Communications, the owner of Paytm brand, expects to turn profitable from the next quarter, a top company official said on Tuesday.

Paytm reported a consolidated loss of Rs 545 crore during the March quarter, comprising a notional loss of Rs 522 crore stemming out of the acceleration of ESOP (employee stock ownership plan) expense of Rs 492 crore and Rs 30 crore towards their impairments.

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After excluding the exceptional loss of Rs 522 crore, the company posted a loss of Rs 23 crore for the March quarter.

"We are at a verge of PAT (profit after tax) profitability. I am very sure that next quarter onwards if everything goes as we are seeing it could very well be a PAT quarter," Sharma said, during the company's earning call.

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The company achieved operational profit of Rs 81 crore after excluding ESOP costs in the March quarter as per the guidance, Paytm said.

The consolidated loss of Paytm during the quarter also narrowed on a year-on-year basis following a reduction in payment processing charges and employee benefits.

The company had incurred a loss of about Rs 551 crore in the same period a year ago, it said in a regulatory filing.

Revenue from operations dropped 15.7 per cent to Rs 1,911.5 crore during the quarter from Rs 2,267.1 crore in the March 2024 quarter.

In FY25, the company's loss more than halved to Rs 645.2 crore from Rs 1,390.4 crore in FY24. Revenue from operations declined about 31 per cent to Rs 6,900 crore from Rs 9,977.8 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)