Paytm Q1 Results 2024 Update; Net Loss, Revenue And Share Price | Paytm’s first-quarter loss was ₹839 crore: It was ₹357 crore in the same quarter last year, share fell 45% in a year.

Paytm’s parent company One 97 Communications has suffered a loss of Rs 839 crore on an annual basis in the first quarter of the financial year 2024-25. The loss in the same quarter of the last financial year i.e. 2023-24 was Rs 357 crore. That is, the company’s loss has increased by 134%.

The company’s revenue has also declined. Paytm’s revenue from operations in the April-June quarter stood at Rs 1,502 crore. Revenue in the same quarter last year was Rs 2,342 crore. That is, in the first quarter the company’s revenue fell by 36% on an annual basis.

Due to RBI ban on Paytm Payment Bank, its business has been affected. After the announcement of quarterly results, Paytm shares are up by about 1%. It is trading at Rs 450. The shares have fallen by about 45% in the last one year.

Loss increased by 53% on quarterly basis
There has been a loss of Rs 839 crore on an annual basis in the first quarter of the financial year 2024-25. The company had suffered a loss of Rs 550 crore in the last quarter i.e. January-March. That is, the loss has increased by 53% on a quarterly basis.

Whereas in the April-June quarter, Paytm’s revenue from operations stood at Rs 1,502 crore. In the last quarter i.e. January-March, Paytm’s revenue from operations was Rs 2,267 crore. That is, the company’s revenue fell by 34% on a quarterly basis.

RBI ban affects Paytm’s business
In the circular issued on January 31, 2024, RBI had said that after February 29 (later extended to March 15), money will not be deposited in the account of Paytm Payment Bank. Money cannot be deposited into wallet, prepaid services, Fastag and other services through this bank.

However, there was no restriction of any kind on the withdrawal or use of money in the savings account, current account, prepaid instruments, Fastag, National Common Mobility Card etc. of Paytm Payments Bank customers. It can be used until the balance is available.

Paytm was started in 2009
Paytm’s parent company One97 Communications launched the Paytm payment app in August 2009. Its founder is Vijay Shekhar Sharma. Currently, Paytm has more than 30 crore users in the country. The market cap of Paytm is around Rs 28 thousand crores.