Paytm Owner's Shares Dive 5% After Block Deal Worth Rs 1,441 Crore

24 Nov 2023 , 03:02 PM

One97 Communications Ltd, the owner of Paytm, sees a nearly 5 % drop in shares following a substantial block deal. Approximately 1.6 crore shares, constituting a 2.56 % stake, worth Rs 1,441 crore, change hands at an average price of Rs 884 per share.

The stock hits a low of Rs 880 per share, experiencing a 4.6 % decline intraday, and trades at Rs 898 per share at 10.20 am, down 2.7 % from the previous close.

Recent RBI regulations impacting consumer lending norms have brought Paytm into focus, with potential effects on fintech intermediaries.

Paytm’s inclusion in the MSCI Global Standards Index attracts attention, with estimated potential inflows ranging from $140 million to $162 million.

In Q2 FY24, Paytm reports consolidated revenue of Rs 2,519 crore, a 32 % increase from the previous year, driven by improved payment processing margins and loan disbursement growth.

Losses reduce to Rs 292 crore from Rs 571 crore in the previous financial year, with direct expenses at Rs 1,093 crore in Q2 FY24. Compared quarterly, there is a 7 % revenue increase to Rs 2,341 crore from Rs 2,184 crore recorded in Q1 FY24, with a loss of Rs 358 crore during this quarter, based on available data.

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