Paytm shares surge 11% post NPCI approvement to onboard new UPI users

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The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, provided it adheres to all NPCI procedural guidelines and circulars. Following this, Paytm’s shares have gained momentum. 

Paytm stock surged 11.27 per cent from the close of ₹687.30 on the BSE, as of 12.03PM, one 97 Communcation’s stock is trading at ₹ 764.75. In today’s session, the stock hit a high of the stock hit a high of ₹761.0 and a low of ₹700.15. 

One 97 Communications Ltd, which owns the Paytm brand, reported a consolidated net profit of ₹950 crore for the second quarter ending September 30, 2024. 

Revenue from operations for the quarter under review increased by 11per cent to ₹1,660 crore, compared to ₹1,501 crore in the June 2024 quarter. With growth in revenue, improved contribution margins, and reduced indirect costs, EBITDA has improved by ₹388 crore from the previous quarter to ₹ 404 crore. EBITDA before ESOPs improved by ₹359 crore to ₹186 crore compared to the previous quarter, and the company remains committed to reaching EBITDA before ESOP profitability by Q4 FY25