Despite the jump in revenue its loss widened in June quarter to Rs 645 crore from Rs 382 crore during the same period last year
Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential
The remarks come amid a steep decline in Paytm's shares, which are now trading 75 per cent lower than the price at which investors bought them at the initial public offering
On May 30, Sharma bought 1,00,552 shares worth Rs 6.31 crore and on May 31, he bought 71,469 shares worth Rs 4.68 crore
Sharma said that the estimates are well ahead of estimates by most analysts.
Macquarie has cut the target price by 36 per cent for Paytm parent company One97 Communication, which is already facing heat from RBI restrictions and investors’ wrath.
This move enables the company to create a long-term sustainable business in partnership with ONDC
Paytm Payments Bank termed the report "completely false, inaccurate and unverified," adding that it is fully compliant with RBI’s directions on data localisation
Paytm Payments Bank will be eligible to apply for a small finance bank license by May-June
The consolidated revenue from operations of Paytm, however, increased by about 88 per cent to Rs 1,456.1 crore during the reported quarter