Paytm’s parent company One97Communications claims to have achieved breakeven by the quarter of September 2023
Paytm’s parent company One97Communications has announced the financial results for the fourth quarter of the financial year 2021-22. According to the information given by the company, during the three months ended March 31, 2022, the fourth quarter of the financial year 2021-22, it has suffered a loss of Rs 762.5 crore on an annual (YOY) basis. However, despite this loss, the company has claimed that its business is on the right track and in terms of EBITDA, it will be in break-even condition by the time of September 2023 quarterly results.
The company has reported revenue of Rs 1541 crore from operations in the fourth quarter, which is 89 percent higher than the same period last year. The company also said that its EBITDA loss (before cost of ESOP) in the fourth quarter stood at Rs 368 crore, which is Rs 52 crore more than the same period last year. The company’s EBITDA loss (excluding cost of ESOP) stood at Rs 1,518 crore during the entire financial year 2021-22, which is 8 per cent lower than the loss of Rs 1,655 crore in the financial year 2020-21.
The company declared its results late on Friday night after the stock market was closed. The results of the company have been uploaded on the website of Bombay Stock Exchange at 9.41 pm. Whereas at 9.48 pm, the company has also given information about the results on its Twitter handle.