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At the end of the December quarter, mutual funds held 4.99 percent stake in Paytm, up from 2.79 percent in the previous quarter. Nippon held a 1.05 percent and Mirae a 2.5 percent stake in the company
Currently, those using Paytm to make UPI payments have virtual payment addresses (VPAs) ending in @paytm. After March 1, customers might find this changing to some other banks handle. Paytm aims to use three or more banks to start issuing new VPAs to its customers for use from next month, sources said.
The company had earlier mentioned that it is gunning for cash flow positive as its next milestone. “In my opinion, in the next 3 years, you will see some worthy numbers and results of hard work put in by the team. Our team remains committed to serve India and build a long-term profitable business,” said Sharma.
The company's fast-growing financial services business formed 22.3% of the total revenue. Its contribution margin — a measure of revenue less cashbacks and charges such as payment processing — rose to 56%, from 43% a year earlier.
Paytm shares tanked more than 7% to ₹653 apiece on the BSE in Friday's opening deals