Stock Market update: Paytm shares fall 6% after Macquarie slashes price targets

The shares of One97 Communications went down by 6% at Rs. 1,155.55 per equity share on January 10, 2022, 02:40 PM IST

One97 Communications Paytm has seen a drop in its share price today. The shares declined by 6% and with over 76 points. The share price of Paytm went down at Rs. 1,155.55 per equity share on Monday. Since the beginning of the new year, the shares of One97 Communication have witnessed a constant fall. The previous high was at Rs. 1567.55 per share on December 10, 2021.

Paytm, based in Delhi, was founded in 2000 and is a subsidiary company of One97 Communications, which is an Indian e-commerce and fintech company. As of June 2021, One97 Communications is valued at $16 billion, making it one of the most valuable unicorn companies in India.

The net income of Paytm in the quarter ending September 2021 stood at Rs. 1,134.50 crore as compared to Rs. 758.10 crore during the same quarter in the previous year and represented a total income growth of 19.67%.

Whereas, the net revenue in the year 2021 was estimated to be around Rs. 3,186.80 crore which was lower than the previous year representing a decrease of 10%. In 2020, the net revenue stood at Rs. 3,540.70 crore. According to RedSeer, Paytm has the largest payments platform in India with a gross merchant value of Rs 4,033 billion in the financial year 2021.

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