One97Communications, Paytm’s parent company, has released its financial results for the fourth quarter of fiscal year 2021-22. According to the company’s information, it lost Rs 762.5 crore on an annual (YOY) basis during the three months ended March 31, 2022, the fourth quarter of the financial year 2021-22. Despite this loss, the company claims that its business is on track and that it will be break-even in terms of EBITDA by the time of the September 2023 quarterly results.
The company reported revenue from operations of Rs 1541 crore in the fourth quarter, up 89 percent from the same period last year. The company also revealed that its fourth-quarter EBITDA loss (before cost of ESOP) was Rs 368 crore, up Rs 52 crore from the previous year’s quarter. The company’s EBITDA loss (excluding ESOP costs) for the entire financial year 2021-22 was Rs 1,518 crore, down 8% from the loss of Rs 1,655 crore in the previous financial year.
After the stock market closed on Friday night, the company released its earnings. At 9.41 p.m., the company’s results were posted on the Bombay Stock Exchange’s website. At 9.48 p.m., the company announced the results on its Twitter account.
Paytm’s stock closed at Rs 572 on Friday before the results. Since the start of the year, the company’s stock has dropped more than 57%. One97Communications, Paytm’s parent company, had an initial public offering (IPO) in November 2021, with shares priced at Rs 2150. However, this stock has consistently disappointed its investors since then. Prior to LIC’s IPO, Paytm’s Rs 18,300 crore IPO was the largest in the country.