One 97 communication which ownes digital payment giant 'Paytm' notified the stock exchange about the launch of Auto top for UPI lite service. The UPI Lite auto top-up feature allows your balance to be automatically reloaded when it drops below a predetermined threshold.
Paytm shares
The paytm shares went on to touch the 52 week high level of Rs 939.00 per share also marking the highest trading level today, after hitting the opening bell at Rs 913.80 per share on the NSE (National Stock Exchange).
The stock was currently trading around Rs 937.00 per share on the NSE (National Stock Exchange), with surge of 4 per cent amounting to a Rs 36.05 per share on the Indian bourses.
Paytm was ordered by RBI to shut paytm payments bank
The Reserve Bank of India (RBI) announced in may 2024, that the Paytm Payments Bank would no longer be able to accept deposits or top-ups. The RBI suspended the services in accordance with Section 35A of the Banking Regulation Act, 1949, citing 'persistent non-compliance and continued material supervisory concerns in the bank.'
Citing persistent non-compliance and ongoing material supervisory concerns, the RBI took a significant action against Paytm Payments Bank (PPBL) on January 31 and ordered it to cease accepting deposits or top-ups in any customer accounts, wallets, FASTags, and other instruments.
Paytm was allowed to on board new UPI users after RBI embargo
While allowing One97 Communications (OCL) to onboard new users on its UPI application, the NPCI pointed out that on August 1, the company sent a letter asking for permission to onboard new UPI users on the Paytm app, which had been halted in accordance with RBI directives dated January 31 and February 16.
Paytm Q2 FY25
PAT (Profit after Tax)
In Q2 FY25 the one 97 communication posted their first ever quarterly profit of Rs 928.3 crore compared to Rs 290.5 of net loss during corresponding quarter in previous fiscal year
Q2 FY25 Revenue
A one-time gain of Rs 1,345 crore from the sale of the company's movie ticketing business to Zomato greatly increased its net profit. In Q2FY25, revenue from operations was Rs 1,659 crore, a 34 per cent decrease from Rs 2,518 crore year-over-year (Y-o-Y).
