Paytm Q4 Results : Lossers Decreases 37% to 2,597crore

Paytm Q4 Results: Losses Decreases 37% to 2,597 crore

Paytm Q4 results: Paytm is one of the best online payment system applications. It was founded by Vijay Shekhar Sharma in 2010. As of the reports, it was stated in its Q4 results as losses decreased by 37 percent to Rs 2,597  crore. 

According to the source, the company was developed its business servings in lending, wealth management, and other segments. These have begun new revenue rivulets. Paytm also started a stock brokering business. Besides, it has launched a liquidate of a merchant such as payout services, business apps.

As of the Paytm Q4 results, it posted total revenue of Rs 3,629 crore for FY2019-2020 with a 1.4% growth. Moreover, digital transactions also increased by 50 percent. Besides, the merchant growth rate increased to 17 million in FY19. Moreover, Paytm plans to decrease its losses rate by FY2022. 

According to the source, Paytm plans to list on NSE and BSE platforms through an Initial public offering. Before that, Paytm aims to turn as a profitable financial service by 2022.

Paytm is one of the few Indian corporations that comprise funding between the COVID-19 pandemic. Furthermore, they are selecting new faculty for expanding their business growth. The firm said that it is in the process of engaging over 1,000 engineers, data scientists, financial analysts with other positions for tech and non-tech roles.

Stock Market Updates: 

On September 4th, 2020, both Sensex and Nifty reported a bearish trend in the stock market. The Sensex with a loss of 633.76 with a (1.63%) points at 38,357.18 level. The Nifty also fell 193.60 (1.68%) points at 11,333.85 level.

On the other hand, the number of confirmed or coronavirus cases in India reached 39,36,747 as of September 5th, and deaths reached 68,569.

In the border market, on Friday, the S&P BSE SmallCap reported a bearish trend in the stock market. It lost 158.36 points with a 1.07% decrease at 14,602.97 level. The S&P BSE Midcap lost 262.02 points with a 1.74% drop and reached a 14,817.06 level. While Nifty Bank lost 519.35 points with a 2.21% down and moved 23,011.50 level.