Paytm Q2 Results 2024: Paytm earned Rs 930 crore, yet shares fell, know how it made the highest profit…

Paytm Q2 Results 2024: Paytm's parent company One97 Communications has registered a net profit of ₹ 930 crore in the second quarter of the financial year 2024-25, whereas the company had suffered a loss of ₹ 290.5 crore in the same period last year. There was a one-time contribution of ₹ 1,345 crore in the company's net profit.

Excluding the amount received from the sale of movie ticketing business, Paytm has suffered a loss of ₹ 415 crore in this quarter, which is more than the loss recorded in the same quarter last year. The company has released the results for Q2FY25 i.e. July-September today (22 October).

Operating revenue has declined by 34% year-on-year. The company's operating revenue in the second quarter of FY 2025 declined by 34% from ₹2,519 crore to ₹1,660 crore compared to last year.

Paytm Q2 Results 2024: Rs 1,345 crore earned by selling movie ticketing business

Paytm has recently sold its movie ticketing business to Zomato. From the Rs 1,345 crore received from this, Paytm has earned a net profit of Rs 930 crore in the July-September quarter.

Both the companies had said in exchange filings that on August 21 (Wednesday), the boards of Zomato and Paytm have approved the cash transaction. Paytm wants to focus on its core financial services.

Paytm's shares fell by more than 4%. Paytm's shares fell by more than 4% after the announcement of results. It is trading at Rs 696.

This stock has given a return of 6.88% in the last one month and 84.41% in the last 6 months. However, in the last 1 year, Paytm shares have given a negative return of 24.60%.

Paytm was started in 2009

Paytm's parent company One 97 Communications launched Paytm payment app in August 2009. Its founder is Vijay Shekhar Sharma. At present, Paytm has more than 30 crore users in the country. The market cap of Paytm is around Rs 28 thousand crores.