Paytm Q1 Results: Profit soars 79% YoY to Rs 220 crore; board decides not to go with bonus proposal
Fintech operator Paytm Ltd reported 79% year-on-year (YoY) growth in its consolidated net profit at Rs 220 crore in the first quarter, compared with Rs 123 crore in the year-ago quarter. The Board decided not to proceed with bonus issue at this time, as the company emphasises continued focus on compounding growth and profitability for shareholder value creation.
“After evaluating the proposal from the perspective of long-term shareholder value and due deliberation, the Board was of the view that the company should continue to focus on further compounding growth and profitability for shareholder value creation. Accordingly, the Board decided not to proceed with the said proposal at this time,” the company said.
