Paytm CFO Expresses Confidence in Sustainable Free Cash Flow, Rules Out Future Funding Needs

13 Sep 2023 , 12:26 PM

Shares of One 97 Communications Limited, the parent company of fintech giant Paytm, fell by 3.82%, or Rs 33.05, to reach Rs 831.50 each on Wednesday (September 13). This decline followed the company’s CFO, Madhur Deora, stating at the annual general meeting (AGM) that Paytm had no immediate need for funding due to its robust financial position.

Paytm’s CFO, Madhur Deora, assured shareholders at the company’s annual general meeting (AGM) that Paytm does not anticipate requiring additional funding in the near future. He emphasized that the company’s financial position is robust, with zero debt and a healthy balance sheet.

While Paytm’s stock had performed well year-to-date (YTD), it experienced challenges in the past month. With a 3.5% drop on Wednesday, Paytm shares decreased by 5.44% in the last five trading sessions and 3.62% over the past month. Nevertheless, the shares had shown significant gains earlier, surging by 43.35% in the last six months and 56.46% YTD.