Paytm shares climbs over 6% after firm narrows loss

Shares of One97 Communications climbed over 6 per cent in late morning trade on Monday after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter. One97 Communications (OCL) is the parent entity of leading mobile payments and financial services company Paytm.

The stock of One97 Communications rallied 6.44 per cent to Rs 558.75 apiece on the NSE.

On the BSE, it jumped 6.30 per cent to Rs 557.95 per share.

The financial results of One97 Communications came after market hours on Friday.

The 30-share BSE Sensex was trading 416.33 points or 0.68 per cent lower at 60,425.55 in morning trade.

Digital financial services firm One97 Communications on Friday said it has narrowed its consolidated net loss to Rs 392 crore in the third quarter ended December 2022.

The company had posted a net loss of Rs 778.4 crore in the same period a year ago, the company said in a regulatory filing.

Its revenue from operations jumped about 42 per cent to Rs 2,062.2 crore during the quarter from Rs 1,456.1 crore in the year-ago period.

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