Parent company of Paytm, One 97 Communications revealed ₹928 crore for net profit in Q2 FY25 end, September 30, after a loss of ₹839 crore in the last quarter. This profit has registered a sudden upturn as against the loss of ₹ 291.70 crore at the same period of the previous financial year.

The profit was helped by a one-time ₹1,345 crore sale of Paytm’s movie ticketing service to Zomato, who had struck a deal with PVL last year to become its official dining app partner. If net gain is abstracted, the company would seen to have incurred a net loss of ₹415 crore, which is even worse than the preceding financial year.

But shares of One 97 Communications are down as much as 7.74% to ₹669.65 in BSE despite the brighter-than-expected earnings number. Revenue from operations was further down at ₹1,659.5 crore, down 34% YoY from ₹2,518.6 crore but up 10.5% QoQ.

During its quarterly earnings calls, Paytm focused on it strategies of capturing new payment and financial service consumers and merchants. The company has started to report basic metrics about its new financial services customer base, which stood at 6.0 lakh in second quarter of the fiscal 2020-21, compared to 5.9 lakh in the previous quarter.

In the coming years, the company aims at intensifying its financial services segment by collaborating with different financial companies; thus, utilizing customer outreach for higher levels of cross-sells.