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In a letter to shareholders, Paytm founder and CEO Vijay Shekhar Sharma said that the fintech firm is committed to building a profitable company and believes that it should be operating EBITDA breakeven in next 6 quarters.
“While we will publish our fiscal 2022 financial results in due course, we are encouraged by our business momentum, scale of monetization and operating leverage. We expect this to continue, and I believe we should be operating EBITDA breakeven in next 6 quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans,” Paytm‘s Sharma said.
Sharing its update on the operating performance for the quarter ending March 2022, Paytm said that the number of loans disbursed through its platform grew 374% year-on-year (YoY) to 6.5 million loans in Q4, while the value of loans disbursed was ₹3,553 crore, YoY growth of 417%. Meanwhile, its total merchant payment volume (GMV) rose 104% to ₹2.59 lakh crore.
Paytm, which made a dismal debut on stock markets in mid-November last year, has seen its share price more than halve against the issue price on repeated concerns over valuation from analysts.
“Against the backdrop of volatile market conditions for high growth stocks globally, our shares are down significantly from the IPO price. Rest assured, the entire Paytm team is committed to build a large, profitable company and to create long-term shareholder value. Aligned with this, my stock grants will be vested to me only when our market cap has crossed the IPO level on a sustained basis,” he added.
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