India's Paytm aims for key profitability metric by Sept 2023

BENGALURU :Indian digital payments firm Paytm said on Wednesday it would be able to breakeven for a key measure of profitability by September next year, boosting its shares, which have struggled so far due to doubts over its business model.

The company's stock, which has lost more than 70per cent from its IPO price of 2,150 rupees, rose as much as 4.3per cent to a near three-week high of 635.4 rupees. "We are encouraged by our business momentum, scale of monetization and operating leverage. We expect this to continue, and I believe we should be operating earnings before interest, taxes, depreciation, and amortization breakeven in the next six quarters," founder Vijay Shekhar Sharma said.

Backed by China's Ant Group and Japan's SoftBank Group Corp , Paytm raised $2.5 billion in November last year in India's biggest initial public offering , but made a dismal debut on widespread concerns about its high valuation. Sharma also said his stock grants will only vest when the firm's market capitalisation crosses the IPO level on a sustained basis.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

India's Paytm aims to break-even for profitability in 1.5 yearsBENGALURU : Indian digital payments firm Paytm said on Wednesday it should be able to achieve a breakeven for a key metric of profitability in one-and-a-half years.'We are encouraged by our business momentum, scale of monetization and operating leverage. We expect this to continue, and I believe we should
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

India condemns killings in Ukraine's Bucha in apparent hardening of stanceSylvieKauffmann Mais aussi sur sanctions ...
Source: STForeignDesk - 🏆 4. / 71 Read more »

India blocks 22 YouTube news channels citing national securityNEW DELHI : India's government on Tuesday said it has banned 22 YouTube channels, including four of Pakistani origin, for disinformation on subjects concerning national security and public order, the latest such federal crackdown in the country.The country's Ministry of Information & Broadcasting said the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

India condemns killings in Ukraine's Bucha in apparent hardening of stanceNEW DELHI India on Tuesday (Apr 5) condemned the killings of civilians in Ukraine's Bucha and called for an independent investigation, having earlier declined to explicitly criticise the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

WHO's new centre in India to help bring traditional medicines into global healthcare systems
Source: STForeignDesk - 🏆 4. / 71 Read more »