One97 Communications shares jump 5% on narrowing loss in Q4

New Delhi: Shares of digital financial services firm One97 Communications, which operates under the Paytm brand, jumped almost 5 per cent on Monday after the company's consolidated loss narrowed to Rs 167.5 crore in the March quarter.

The stock ended with a gain of 4.95 per cent at Rs 723.60 apiece on the BSE. During the day, it rallied 5.78 per cent to Rs 729.35 apiece.

Shares of the company on the NSE climbed 4.98 per cent to end at Rs 724 each.

The company's market valuation gained Rs 2,170.67 crore to Rs 45,867.19 crore.

In volume terms, 5.96 lakh shares of the firm exchanged hands on the BSE and over 1.59 crore shares were traded on the NSE during the day.

The company had posted a loss of Rs 762.5 crore in the same period of the last year.

The consolidated revenue from operations of the company grew 51.5 per cent to Rs 2,334.5 crore in the quarter under review, from Rs 1,540.9 crore in the March quarter of FY22.

For the year ended March 31, 2023, One97 Communications reported narrowing of loss to Rs 1,776.5 crore from Rs 2,396.4 crore in the previous fiscal.

The revenue from operations of the company grew by about 60 per cent to Rs 7,990.3 crore in FY23 from Rs 4,974.2 crore in FY22.

"Our 61 per cent YoY revenue growth for FY2023 was driven by payments monetisation and growing scale of our loan distribution business," the company said in a statement on Friday.