On March 23, intra-day trade on the BSE, shares of One 97 Communications, the parent company of digital payments giant Paytm, hit a new low of Rs 536.20, down 1.4 percent. Despite the company’s comments to markets, the stock has descended nearly 5% from its intraday high of Rs 562.
One 97 Communications stated, “The company would like to stress out that its business fundamentals remain beneficial as indicated in our most recent earnings release dated February 04, 2022.”
Paytm’s revenue from payments, including merchant transfers, is likely to be about USD 140 million (around Rs 1,034 crore) in the current quarter, up 50-60% year on year, according to a senior company official. On 21 April, Paytm’s stock closed at Rs 641 on the BSE, down 70% from its IPO price of Rs 2,150 in November last year.