“The number of loans disbursed grew 224% y-o-y to 9.2 million in the quarter ended September 2022, while the value of loans disbursed grew 482% y-o-y to ₹7,313 crore ($894 million)," the company stated in a statement on 10 October. While Paytm has demonstrated encouraging progress in its business, the timeline to achieve profitability is less clear. This metric is intricately linked to how the stock performs in the future. Profitability is on every investor’s mind, too.
Paytm’s priority, according to a company executive who didn’t want to be identified, is to make this core business profitable. “Paytm is in the business of payments, and it sells loans," Paytm managing director and chief executive officer Vijay Shekhar Sharma said in an interview to Bloomberg on 28 July. Now, Paytm appears to be hard at work simplifying what it does-what’s at its core what services could help achieve profitability. Retail investors, perhaps, were even more confounded. Brokerage firm Macquarie Group dubbed this as “too many fingers in too many pies".
Separately, it had started Paytm Mall-an e-commerce play. Besides, the company was trying to aggressively grow its wealth management business via Paytm Money as well as the games businesses via Paytm Games. It was angling for an insurance licence and was also poised to seek a small finance bank licence for its payments bank. The company, he added, will benefit from greater clarity on its business and revenue model.Īt the time of the IPO, One97 Communications had 15 domestic subsidiaries and 17 international subsidiaries. Pattaje sees the stock bouncing back over a 10- year period. However, we did not expect the stock to crash 70% below the issue price," he said. “The idea was to invest on the theme of digitization. Thereafter, he purchased a similar amount when the stock was trading at around ₹1,000 – ₹1,200. He bought close to 50 off-market shares for around ₹3,000 apiece, well before the company listed. Vivek Pattaje, a 30-year-old chartered accountant from Bengaluru, is one of them. There are investors who held onto the stock. “Why did they overdo it?" she asked, adding that the company needn’t have hyped the issue as much or priced the IPO this high. This is how you lose tax benefits on health policies Graphs reveal how Indians are splurging in festive season Why freight trains are switching to aluminium wagons Garg, who also uses Paytm’s wallet, felt betrayed.
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