Shares of BSE 200 fintech company are buzzing on the bourses today!

Looking at the recent announcements, the company reported its Q3FY23 results last week.

Shares of One 97 Communications Ltd (Paytm) are buzzing on the bourses today. As of 11.36 am, the shares of the company are trading higher by 9.70%. Today, the company reported a spurt in trading volume by more than 3.24 times. Owing to this, the stock is one of the top gainers on BSE from Group A.

Meanwhile, the frontline index S&P BSE Sensex is down by 0.21%.

Announcement of quarterly performance  

Looking at the recent announcements, the company reported its Q3FY23 results last week. As per the filing, Paytm achieved operating profitability three quarters ahead of guidance. The company reported EBITDA before ESOP of Rs 31 crore in Q3FY2023.

The revenue from operations grew by 42% YoY to Rs 2,062 crore. This growth was driven by an increase in merchant subscription revenues, growth in loan distribution and momentum in the commerce business. The contributing profit improved to 51% of revenue in Q3FY23 from 31% in Q3FY22 and 44% in Q2FY23. This was driven by improvement in payments profitability, and growth of high-margin businesses, such as loan distribution. However, the company incurred a net loss of Rs 397 crore.

About the company

One97 communication ltd is a pioneer in mobile internet services for consumers in India. It has the widest and largest deployment of telecom application cloud platforms. One97 delivers mobile content, advertising and commerce services to millions of mobile consumers. Their key offerings are branded content services for mobile consumers, mobile advertising – pay-per-click and pay-per-insert mobile advertising on 2.5G and mobile internet properties, and Paytm, a mobile commerce platform that offers mobile recharge and deals for consumers.

Share price movements

The company is a constituent of Group A stocks and commands a market capitalization of Rs 39,622.38 crore. Today, the scrip opened at Rs 558.30 and has touched a high and low of Rs 669.60 and Rs 558, respectively. So far 5,82,802 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 984.90 and Rs 439.60, respectively on BSE.