SUMMARY
- Paytm recorded a profit of Rs 930 crore in Q2 FY25.
- This came on account of earnings from the sale of its ticketing business to Zomato.
- The firm’s revenue from operations fell by 34% YoY reaching Rs 1,659 crore
The parent company of Paytm, One 97 Communications Ltd, recorded a profit of Rs 930 crore in Q2 FY25, up from the Rs 290 crore loss in Q2 FY24, on account of earnings from the sale of its ticketing business to Zomato.
Despite these profits, the Vijay Shekhar Sharma-led company’s revenue from operations fell by 34% YoY reaching Rs 1,659 crore, while marking a slight rise from the first quarter’s Rs 1,501 crore.
Without these profits, the fintech reported a loss of Rs 495 crore in the quarter under review, a 70% YoY rise from the same quarter previous year. This represented a sequential decline of 41% from the Rs 840 crore loss reported in the June quarter (FY24).
The company’s regulatory filing stated, “On August 21, 2024, the Company entered into definitive agreements with Zomato Limited for sale of its movie ticketing business and events business housed in the Company as well as its two wholly owned subsidiaries for a total consideration of Rs 2,048 crore which was subject to cash and net-working capital adjustment at closing.”
The sale generated a profit of Rs 1,345.4 crore, which was classified as an “exceptional item” in the financial statements, marking a successful financial turnaround for Paytm.
