• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, May 21, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Markets

Paytm’s Operating Profit Takes the Market by Surprise, Shares Up 7%

by Indrajeet Giram
February 7, 2023
in Markets
Reading Time: 2 mins read
0
Paytm's Operating Profit Takes the Market by Surprise, Shares Up 7%

Paytm's Operating Profit Takes the Market by Surprise, Shares Up 7%

TwitterWhatsappLinkedin

Indian digital payments giant Paytm saw its shares soar by 74% on February 6th after announcing a surprising operating profit for the third quarter. The financial technology company, which is one of India’s largest, had been facing increased competition in the market but managed to turn a profit due to a rise in digital payments and financial services.

You might also like

Klarna Rethinks AI Push: CEO Pledges Return of Human Customer Service Agents

CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

Paytm reported a profit of INR 1,121 crore ($152 million) in the quarter ending December, driven by strong growth in its payments and financial services business. The company’s operating revenue rose by 75% year-on-year to INR 3,958 crore ($534 million).

The news was a welcome surprise for investors, who have been concerned about Paytm’s financial performance in recent months. The company has been investing heavily in its business, acquiring insurance and mutual fund startups and expanding into new areas like lending and wealth management.

Paytm's Operating Profit Takes the Market by Surprise, Shares Up 7%
source : finance.yahoo.com

Paytm’s CEO, Vijay Shekhar Sharma, stated that the company’s strong financial performance was a result of its focus on customer satisfaction and a commitment to innovation. He also credited the Indian government’s push for digital payments and financial inclusion for creating a supportive environment for the company’s growth.

The announcement of a surprising operating profit has also fueled speculation about Paytm’s plans for an initial public offering (IPO) in the near future. The company, which is valued at over $16 billion, has been considering going public for some time, and this strong financial performance could be seen as a sign that it is ready to take the next step.

Overall, the announcement of a surprising operating profit has been met with optimism and excitement, as it marks a significant milestone for Paytm and the Indian digital payments industry as a whole. With continued growth and innovation, the company is well positioned to maintain its leadership in the market and achieve even greater success in the future.

what is the growth story of paytm?

Paytm has grown from a mobile recharge and bill payment platform to a leading fintech company in India. It was founded in 2010 by Vijay Shekhar Sharma and initially focused on offering mobile recharge and utility bill payments through its platform. Over time, the company expanded its services to include digital wallets, e-commerce, and wealth management.

The company saw a huge surge in growth in 2016 when the Indian government demonetized high-denomination currency notes and pushed for a cashless economy, leading to an increase in demand for digital payment services like Paytm. Since then, Paytm has continued to grow and expand its services, and it has become one of the most widely used fintech platforms in India.

In addition to its domestic success, Paytm has also expanded its operations into international markets, including Canada and Japan. The company has raised over $2 billion in funding from investors such as SoftBank, Ant Financial, and Berkshire Hathaway. Today, Paytm is valued at over $16 billion and is considered to be one of the leading fintech companies in India and beyond.

Tags: #Infaltion#paytmmall#vijayshekharsharmadrugmakersEmployee LayoffhealthcareNASDAQSanofiUS marketvaccine
Tweet54SendShare15
Previous Post

Busy Week for Investors: A Guide to Upcoming 6th-10th feb 2023 Earnings Reports

Next Post

Adani Promoters Free Pledged Shares with Early Repayment

Indrajeet Giram

📚 Avid reader 🔋constant learner curious analyzer @ everything 📝Business & Economic Journalist ✍️

Recommended For You

Klarna Rethinks AI Push: CEO Pledges Return of Human Customer Service Agents

by Harikrishnan A
May 21, 2025
0
Klarna Rethinks AI Push: CEO Pledges Return of Human Customer Service Agents

Klarna, the Swedish fintech giant known for its buy-now-pay-later services, is taking a step back from its aggressive automation strategy and bringing human voices back to its customer...

Read more

CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

by Ishaan Negi
May 21, 2025
0
CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

In a world where cyber threats evolve faster than traditional security systems can respond, one company is flipping the script. Bengaluru-based CloudSEK, a leader in AI-powered cyber threat...

Read more

Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

by Ishaan Negi
May 21, 2025
0
Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

Curefoods, a cloud kitchen company located in Bengaluru, has taken the exclusive rights to franchise Krispy Kreme throughout India in a daring move that highlights the expanding convergence...

Read more
Next Post
Adani Promoters Free Pledged Shares with Early Repayment

Adani Promoters Free Pledged Shares with Early Repayment

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?