Operating performance update points to healthy outlook for Paytm stock

By end-August the company had 8.7 million devices deployed, almost doubling from 4.5 million devices in August 2022

The One97 Communications stock saw a surge in interest as the company’s operating performance update for August was considered positive by the Street.

In addition, there was a news buzz as the company released a new hitech soundbox, which has longer battery life and processes all major cards.

 The performance indicates that the company, which is better known by its Paytm brandname, is still on course to achieve its guidance of going cashflow positive by the end of the 2023-24 financial year (FY24). Soundbox penetration has grown and so have card penetration, loan disbursals and gross merchandise value or GMV.

By the end