One97 Communications Limited Q2 Results 2023

Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,

Highlights of the Result

• Paytm reported revenue of   ₹2,518.6 Cr • Paytm reported a loss of   ₹291.7 Cr • The contribution profit grew   69% to ₹1,426 Cr

Performance Highlights

• Total revenue from operations increased by 32% YoY • One97 Communications reported that the payment revenues grew 28% YoY • Almost 60% of the revenue in Q2 FY‘24 came from payment services

Major Announcements

• Antfin's stake decreased to 9.90% • Vijay Shekhar Sharma is now the sole owner with 19.42% • RBI fined Paytm Payments Bank ₹5.39 Cr, discussions ongoing

Payment and Loan Distribution Business

Q2 FY23-24: Subscriptions surge to 92 lakhs, 60% Q2 revenue from payments. Financial services soar 64% YoY, 1.18 Cr unique customers, loans at ₹16,211 Cr.

Source: One97 Communications Limited Financial Report – Q2 Report, BSE