Page 3 - One 97 Communications Ltd News

SoftBank VF1 reports $544 mn loss on Paytm exit, gains $65 mn on Zomato

The Japanese conglomerate recorded a $394 million gross gain from its $199 million investment in Policybazaar, and gain of $285 million on its $397 million investment in Zomato

Paytm sees no impact of reduced UPI incentives on path to profitability

Company announced launch of first NFC card soundbox

Paytm sees no impact of lowering of UPI incentives on path to profitability

Fintech firm One97 Communications, which owns Paytm brand, sees no impact of lower incentives earmarked by the government in the budget for promoting small ticket digital transactions, a top official of the company said. Speaking on the sidelines of launching "Card NFC Soundbox" machine, Paytm CEO Vijay Shekhar Sharma denied any impact of lower allocation of incentives to promote small ticket digital transactions on his guidance over profitability this fiscal year. "We remain committed to doing the same (achieve a profitable quarter in this fiscal) because we already said without UPI incentive," Sharma said. The government has lowered incentive allocation for Rupay and UPI transactions by about 42 per cent in the budget. Sharma during the company's earning call had given guidance to achieve a profitable quarter during the current fiscal. "My team and we are also committed to making sure that we go back to profitable quarters very, very soon. We are hoping and working on making sur

Paytm launches NFC card soundbox with integrated card payment system

Paytm NFC card soundbox will allow small shops to accept a range of payments, including credit and debit cards as well as UPI

Paytm shares hit upper circuit on govt nod for investment in payments arm

The stock price surged on the back of reports claiming that the company had received the government nod to invest Rs 50 crore in its associate entity Paytm Payments Services Limited (PPSL)

Paytm's offer to invest in payments arm under govt consideration: DFS Secy

The proposal is still under consideration by the inter-ministerial panel and expected to take a call soon, Financial Services Secretary Vivek Joshi told PTI

Paytm likely gets FDI nod for investment arm; share hits 10% upper circuit

The uptick in the share price came after reports indicated that the Government has approved Paytm's FDI proposal for payment aggregator business.

Paytm partners with Axis Bank to provide payment technology solutions

Fintech will provide point-of-sale and card machines to the private sector lender

RIL, Paytm, HDFC Bank, BPCL: Trading strategies for stocks post Q1 results

Technical charts suggest that Paytm is likely to trade with a favourable bias; while others may display a subdued trend in the near-term.

Paytm Q1: Loss widens to Rs 838.9 cr, total income declines 33.5%

Hope to deliver at least one profitable quarter this year, says Sharma

Paytm Q1FY25 results: Loss widens to Rs 840 crore, revenue falls 36%

Paytm Q1FY25 results: One97 Communications' income for the first quarter fell 33%; Paytm is currently awaiting regulatory approval to start onboarding new UPI users

FlixBus partners with Paytm to enhance global travel tech distribution

Global travel tech firm FlixBus has partnered with fintech major Paytm to expand its distribution network, a joint statement said on Tuesday. With this, FlixBus tickets will now be available through the Paytm app. "This collaboration is poised to drive substantial growth for both companies, expanding Paytm's travel options and reinforcing its position in the travel industry while enabling FlixBus to tap into Paytm's vast customer base and technological expertise," the statement said. "By encouraging more people to choose bus travel, we can significantly reduce emissions and make a positive impact on the environment. Webelieve it will significantly enhance the travel experience for millions of users," Surya Khurana, Managing Director of FlixBus India, said. Shares of Paytm settled at Rs 459.75 apiece on the BSE, down 2 per cent from the previous close.

Paytm gets Sebi warning for transactions with banking unit, defends itself

Company says it's committed to 'highest compliance standards' after regulator flags related party transactions with Paytm Payments Bank in FY22

Paytm gets warning from Sebi for old transactions with banking unit

Paytm, in its response, said it believes it has consistently acted in compliance with regulation, and added that there is no impact on financials and operations of the company due to the warning

Softbank exits Paytm in June quarter at loss of around $150 mn: Report

Japan's Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around USD 150 million, sources aware of the development said. Softbank invested about USD 1.5 billion in One97 Communications -- the owner of Paytm brand -- in tranches in 2017. "Softbank has exited Paytm at a loss of 10-12 per cent. The total loss is around USD 150 million," one of the sources said. Softbank held around 18.5 per cent stake in Paytm before the company's initial public offering (IPO) in 2021. It held a 17.3 per cent stake through SVF India Holdings (Cayman) Ltd and 1.2 per cent through SVF Panther (Cayman) Ltd. SVF Panther sold its entire stake during the IPO for Rs 1,689 crore, about USD 225 million. "Softbank announced that it will exit Paytm in 24 months from the time of the IPO. The exit was in line with Softbank's plan. However, the company did anticipate loss at that time," another source said. Softbank had acquired Paytm shares at an average price of abo