In its
first earnings report since going public earlier this month, the company said expenses jumped 37.1% over the year ago to Rs 1,599 crore and consolidated net loss increased to Rs 474 crore from Rs 437 crore a year ago. Its revenue from operations, however, surged 63.6% to Rs 1,086 crore for the quarter ended September.
“Some of the line items in our payment business are not just profit generating but free cash flow generating,” Founder and Chief Executive Vijay Shekhar Sharma said in an earnings call for investors on Saturday.
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Behind Paytm’s dismal IPO and its constant valuation catchup
Paytm, which counts China’s Ant Group and Japan’s SoftBank Group among its backers,
raised $2.5 billion this month in India’s biggest initial public offering, but made a
dismal debut on the stock exchanges.
