Top headlines: Paytm loss widens; confusion in crypto universe, and more

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Paytm loss widens 45% to Rs 778 cr in Q3, revenue rises 89% 

Fintech major Paytm saw its revenue increase 89 per cent to Rs 1,456 crore in the December quarter (Q3) on a year on year basis, whereas net loss widened 45 per cent to Rs 778 crore. 

However, the company said that its contribution profit (defined as revenue from operations less payment processing charges, promotional cashback and incentives, and other direct costs) improved to 31.2 per cent of revenue in Q3 of FY22 from 8.9 per cent in Q3 of FY21. Read more

Cause for concern: Biggest bond yield spike in Budget week since 2017 

This week turned out to be the worst budget week for the bond market in five years, with the yield on 10-year government securities moving up 20 basis points since Finance minister Nirmala Sitharaman’s speech on February 1. Read more

Ashneer Grover's demands heat up fintech unicorn BharatPe boardroom tussle 

The boardroom tussle at fintech unicorn BharatPe has taken a new turn with founder and Managing Director Ashneer Grover writing to the board of directors, withdrawing his nomination of Chief Executive Officer Suhail Sameer as its member, according to media reports. Read more

Costlier oil and subsidy fall likely to hit consumption in FY23 

The 2022-23 fiscal year could be tough for companies in consumer demand-related sectors, such as fast-moving consumer goods (FMCG), consumer durables and automotive, because of multiple headwinds, including cut-back in subsidies, higher oil prices, and rising interest rate. Read more

Confusion in the crypto universe: Budget leaves many unanswered questions 

The Budget had several announcements indicating policymakers are actually thinking about the cryptocurrency ecosystem. Importantly, the Reserve Bank of India (RBI) is scheduled to roll out a central bank digital currency (CBDC), using a blockchain or similar technologies. Read more