Paytm shares lost 5.1 percent in Tuesday’s intraday trade on the BSE after the company posted its second quarter (Q2) results for financial year 2024-25 (FY25). At around 11:15 AM, Paytm shares were down 2.58 percent at Rs 707.25 per share. In comparison, the BSE Sensex was down 0.17 percent at 81,013.65 at around the same time. The market capitalisation of the company at around the same time stood at Rs 44,507.61 crore.
The stock was down as the payment platform would have reported a net loss of Rs 415 crore, excluding the one-time gain, which would have been higher than the loss it reported during the same quarter last year.
On August 21, 2024, Paytm entered into definitive agreements with Zomato for sale of its movie ticketing business and events business housed in the Company as well as its two wholly owned subsidiaries for a total consideration of Rs 2,048 crore.
The transaction resulted in a gain of Rs 1,345.4 crore, which was reported in the financials as an “exceptional item”, resulting in Paytm’s financial turnaround into profitability.
Otherwise, Paytm reported a loss before exceptional items and tax widened to Rs 406.5 crore as compared to Rs 273.3 crore a year ago.
With addition to exceptional gains, Paytm reported a profit before tax at Rs 938.9 crore, as compared to a loss of Rs 279 crore in the year ago period.
The article originally appeared on Business Standard.
