One 97 Communications Ltd, the proprietor of fintech main Paytm, on Friday reported its internet revenue narrowed to Rs 357 crore for the quarter ending June 30, 2023. It reported internet revenue of Rs 644 crore within the year-ago interval.
Paytm’s income from operations rose 39% to Rs 2,342 crore in Q1FY24 as in comparison with Rs 1,680 crore in Q1FY23.
On Friday, Paytm’s scrip on BSE closed practically 1% decrease at Rs 843.55.
“Led by funds and mortgage distribution enterprise development, our income jumped 39% YoY to Rs 2,342 crore and EBITDA earlier than ESOP grew to Rs 84 crore. We proceed to see constant development in profitability, with contribution margin increasing to 56% of revenues,” mentioned Paytm in its earnings announcement.
