Now Reading: Paytm rises as Elevation-linked entities sell shares worth Rs 2,038 crore
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Paytm rises as Elevation-linked entities sell shares worth Rs 2,038 crore
Paytm rises as Elevation-linked entities sell shares worth Rs 2,038 crore
Paytm shares rose more than 1% to touch a 52-week high on Thursday, even as Elevation Capital-linked entities sold 1.49 crore shares worth Rs 2,038.02 crore, Livemint reports. SAIF III Mauritius Company…
The Story in Brief
Paytm shares rose more than 1% to touch a 52-week high on Thursday, even as Elevation Capital-linked entities sold 1.49 crore shares worth Rs 2,038.02 crore, Livemint reports. SAIF III Mauritius Company accounted for the largest sale. The National Pension System Trust bought 30.2 lakh shares worth Rs 413.07 crore, while Axis Mutual Fund acquired 27 lakh shares valued at Rs 369.3 crore.
Paytm reported record first-quarter EBITDA of Rs 203 crore, up 182% year on year, on operating revenue of Rs 2,448 crore. Profit after tax rose 79% to Rs 220 crore. Merchant GMV grew 31% to Rs 7.1 lakh crore, while the company’s device merchant base reached 1.57 crore.
The Indian Opinion
The easy story is either that an early investor’s sale signals trouble or that Paytm’s record quarter proves a clean turnaround. Neither follows from one block deal or one set of results. Buyers included pension and mutual fund institutions, but selling also shows that some early capital is taking profits. The useful test is whether revenue, margins and merchant activity keep improving without temporary incentives. The next quarterly numbers should settle that better than chart targets will.
Source: livemint.com
This story was synthesised by AI from the source linked above.
