Paytm share price vaults to 52-week high, jumps over 3%

At 1:25 pm, the scrip traded at ₹937.65, up 2% on the NSE. The company's market capitalisation stands at ₹59,741.23 crore.

On the BSE, it rose 2.1% to ₹937.95 a unit.

Paytm’s Q2 performance

The fintech’s net profit was supported by a one-time gain of ₹1,345 crore, which resulted from selling its movie ticketing business to Zomato.

On a quarter-on-quarter basis (QoQ), Paytm’s revenue from operations grew 10.5%, jumping from ₹1,502 crore in the quarter ended June 30 to ₹1659.5 crore in the reporting quarter.

NPCI lifts UPI restriction

This move is expected to bring relief to the company which suffered a blow after the Reserve Bank of India (RBI), citing non-compliance, imposed restrictions on onboarding new UPI users in January 2024.

Reapplication for the PA license

Stock performance

Shares of One97 Communications rallied more than 7% on the NSE in the past five days. The stock has risen almost 29% in the past month and vaulted more than 175% in the last six months.

Furthermore, the scrip has jumped 46.05% year-to-date.

About the company

Incorporated in 2000, One97 Communications, Paytm’s parent company, is one of India’s leading financial digital ecosystems for merchants and consumers.

Upon incorporation, the company offered mobile recharge and bill payment services on its platform. From 2013 onwards, it added debit cards, postpaid mobile, and landline payment services. However, its rapid growth was catalysed by the introduction of Paytm Wallet in 2014.