Paytm Q1 earnings: Net loss widens to Rs 840 crore, stock falls

Paytm reported a consolidated net loss of Rs 840 crore in the June 2024 quarter against a loss of Rs 357 crore on a YoY basis. In the March 2024 quarter, the firm posted a loss of Rs 550.5 crore. Revenue fell 36% to Rs 1,502 crore in the last quarter against Rs 2,342 cr in the June 2023 quarter. The stock fell 4.3% to Rs 425.65 on BSE after the earnings were announced. Market cap of the firm slipped to Rs 28,155 crore.

EBITDA loss stood at Rs 792 crore in Q1 . 

Employee expenses decreased by Rs 151.9 crores QoQ and by Rs 153.6 crores YoY.

Employee cost fell 9% QoQ, in line with the company's stated guidance of annualised people cost savings of Rs 400 - Rs 500 crore, it said. 

"Going forward, we expect revenue and profitability to improve, driven by growth in operating parameters such as GMV, an expanding merchant base, recovery in loan distribution business and continued focus on cost optimisation. Strong balance sheet with Rs 8,108 Cr of cash on books; we also hold stock acquisition rights in PayPay Corporation (5.4% stake, once exercised)," said the firm.