Shares of One97 Communications Ltd (Paytm) climbed up to 7.4% on the BSE. 563 in early deals on Monday after the fintech company posted its first quarter operating profit as a listed firm and also narrowed its losses during the third quarter (Q3 FY23) of the current financial year.
Paytm’s net loss narrows in December quarter 392 crore as compared to 779 crore from a year ago while the leading digital payments brand’s revenue from operations grew by 42% 2,062 crores.
“I am very happy to share that our company has achieved this milestone of EBITDA before ESOP cost profitability in the December 2022 quarter itself. This is three quarters ahead of our guidance,” founder and chief executive officer (CEO) Vijay Shekhar Sharma said in a statement.
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