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    PAYTM   INE982J01020

ONE7 COMM

(PAYTM)
  Report
Delayed NSE India Stock Exchange  -  07:27 2022-09-30 am EDT
637.95 INR   +0.92%
09/06One 97 Communications' Paytm Clocks 484% Jump in Loan Disbursements in July-August Period
MT
08/29One97 Communications Limited Appoints Gs Sundararajan to Its Board
CI
08/27One97 Communications Limited Announces Board Changes
CI
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Paytm slips 6% on questions over CEO reappointment, regulatory fears

08/12/2022 | 01:37am EDT
FILE PHOTO: Paytm founder and CEO Vijay Shekhar Sharma poses for a picture at a clubhouse of a residential building in New Delhi

BENGALURU (Reuters) - Shares of India's digital payments firm Paytm fell 6.2% on Friday, hit by a proxy advisory firm's opposition to reappointment of its chief executive officer and the central bank's guidelines for digital lending apps.

Institutional Investor Advisory Services has said it opposes the reappointment of Vijay Shekhar Sharma as CEO and managing director at the annual general meeting next week.

"Vijay Shekhar Sharma has made several commitments in the past to make the company profitable, however these have not played out. We believe the board must consider professionalizing the management," IIAS said in a report dated Aug. 9.

Paytm's parent One97 Communications Ltd, backed by China's Alibaba Group Holding and its affiliate Ant Group, posted a loss of 6.44 billion rupees ($80.83 million) for the June quarter last week, but said it was on track to achieve operational profitability by September 2023.

IIAS also raised concerns that Sharma's overall remuneration, estimated to be 7.96 billion rupees for fiscal 2023, was higher than that of CEOs of all the S&P BSE Sensex companies, most of which were profitable.

Adding to its woes, Paytm told investors on Thursday that the latest guidelines by the central bank on increased scrutiny over digital lending apps could operationally impact its buy-now-pay-later business.

"In the interim, we believe Paytm's lending business disbursement growth may be affected," Macquarie analysts wrote in a note.

Separately, Paytm said macro economic challenges may lead to "slight moderation" in its growth. The company posted nearly 300% jump in loan disbursals in July.

($1 = 79.6720 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 2.38% 80.94 Delayed Quote.-33.45%
MACQUARIE GROUP LIMITED -4.24% 152.74 Delayed Quote.-22.34%
ONE7 COMM 0.92% 637.95 Delayed Quote.-52.63%
SENSEX BSE30 1.80% 57426.92 Real-time Quote.-3.17%
All news about ONE7 COMM
09/06One 97 Communications' Paytm Clocks 484% Jump in Loan Disbursements in July-August Peri..
MT
08/29One97 Communications Limited Appoints Gs Sundararajan to Its Board
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08/27One97 Communications Limited Announces Board Changes
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08/22Indian shares down as IT, banks weigh amid weak global markets
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08/16One 97 Communications' Paytm Ties Up with Samsung Stores to Expand Offline Payments Ser..
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08/12India shares post fourth straight weekly gain ahead of inflation data
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08/12MarketScreener's World Press Review : August 12, 202..
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08/12Paytm slips 6% on questions over CEO reappointment, regulatory fears
RE
08/12One 97 Communications' Paytm Clocks 512% Jump in Loan Disbursements in July; Shares Slu..
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08/09One 97 Communications Ties Up with Piramal Capital to Offer Loans to MSMEs in India's S..
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Financials
Sales 2023 77 703 M 952 M 952 M
Net income 2023 -22 291 M -273 M -273 M
Net cash 2023 54 263 M 665 M 665 M
P/E ratio 2023 -18,9x
Yield 2023 -
Capitalization 414 B 5 072 M 5 072 M
EV / Sales 2023 4,63x
EV / Sales 2024 3,56x
Nbr of Employees 17 964
Free-Float -
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Technical analysis trends ONE7 COMM
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 637,95 INR
Average target price 910,73 INR
Spread / Average Target 42,8%
EPS Revisions
Managers and Directors
Vijay Shekhar Sharma Chairman, CEO & Managing Director
Madhur Deora President, Chief Financial Officer & Director
Manmeet Singh Dhody Chief Technology Officer-Payments
Abhishek Rajan Chief Operating Officer
Deepankar Sanwalka President-Operations & Compliance