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News Topical, Digital Desk : Paytm's parent company, One97 Communications, has released its September quarter results. The company reported a quarterly profit of ₹21 crore, a 98% decline from ₹930 crore a year earlier. A year earlier, the company had reported a one-time gain of ₹1,345 crore from the sale of its movie and event ticketing business to Zomato. Another reason for the decline in profits was a ₹123 crore loss from its gaming joint venture. Profits also declined 82.9% compared to the first quarter.
Other figures:
The company's business revenue increased 24% year-over-year to ₹2,061 crore, a 7% increase from ₹1,918 crore in the previous quarter. This increase was primarily driven by continued strength in financial services and merchant payments. The company's operating performance improved significantly. EBITDA increased 95.8% to ₹141 crore, compared to ₹72 crore in the previous quarter. EBITDA margin also increased from 3.8% to 6.8%. The fintech company reported an exceptional charge of approximately ₹190 crore in the quarter. This amount relates to impairment of a loan given to its gaming joint venture company, First Games Technology Pvt Ltd, which was affected by changes in gaming sector regulations. The company stated that this loan write-down was made following the implementation of the Online Gaming Act 2025, which imposes new restrictions. This resulted in PBT falling below ₹30 crore, compared to ₹126 crore in the June quarter and ₹939 crore in the same period last year.
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