{"id":1594431,"date":"2022-08-08T12:09:36","date_gmt":"2022-08-08T16:09:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1594431"},"modified":"2022-08-08T12:09:45","modified_gmt":"2022-08-08T16:09:45","slug":"indias-paytm-at-near-6-month-high-as-quarterly-revenue-surges","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indias-paytm-at-near-6-month-high-as-quarterly-revenue-surges\/","title":{"rendered":"India\u2019s Paytm at near 6-month high as quarterly revenue surges"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Findias-paytm-at-near-6-month-high-as-quarterly-revenue-surges%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1594431&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BENGALURU (Reuters) \u2013     Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company\u2019s parent firm One 97 Communications Ltd posted an 89% surge in its quarterly revenue. <\/p>\n<p>Higher number of monthly users, additional payment devices and more disbursal of loans lifted the company\u2019s revenue to 16.8 billion rupees ($211.16 million), from 8.91 billion rupees last year. <\/p>\n<p>Investors appeared to show scant response to the company\u2019s wider loss of 6.44 billion rupees posted in its quarterly update after market close on Friday.     <\/p>\n<p>Paytm, which competes with Google\u2019s payment app and Walmart Inc\u2019s PhonePe in India\u2019s digital payments market, said it is on track to achieve operational profitability by September 2023.   <\/p>\n<p>\u201cThe notable print in the results was a sharply increased gross margin print in payments business resulting in expansion in contribution margins to 13bps,\u201d J.P. Morgan analysts said in a note on Monday.<\/p>\n<p>Processing charges of the company, backed by China\u2019s Ant Group and Japan\u2019s SoftBank Group Corp, fell 10.4% to 6.94 billion rupees sequentially.  <\/p>\n<p>\u201cThe management clarified that it could negotiate better deals with their bank partners, and rationalised certain low margin online merchant accounts that resulted in lower payment processing charges,\u201d Macquarie analysts said in a note.<\/p>\n<p>Shares of the company were up 6% at 830.5 rupees, as of 0648 GMT.<\/p>\n<p>($1 = 79.5600 Indian rupees)<\/p>\n<p> (Reporting by Nishit Navin and Meenakshi Maidas in Bengaluru; Editing by Sherry Jacob-Phillips)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2735434\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7708Q-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7708Q-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU (Reuters) \u2013 Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company\u2019s parent firm One<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1594431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1594431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1594431"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1594431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1594431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1594431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1594431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}