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Shares of digital financial services firm One97 Communications, which operates under the Paytm brand, jumped almost 5 per cent on Monday after the company's consolidated loss narrowed to ₹167.5 crore in the March quarter.
The stock ended with a gain of 4.95 per cent at ₹723.60 apiece on the BSE. During the day, it rallied 5.78 per cent to ₹729.35 apiece.
Shares of the company on the NSE climbed 4.98 per cent to end at ₹724 each.
The company's market valuation gained ₹2,170.67 crore to ₹45,867.19 crore.
In volume terms, 5.96 lakh shares of the firm exchanged hands on the BSE and over 1.59 crore shares were traded on the NSE during the day.
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The company had posted a loss of ₹762.5 crore in the same period of the last year.
The consolidated revenue from operations of the company grew 51.5 per cent to ₹2,334.5 crore in the quarter under review, from ₹1,540.9 crore in the March quarter of FY22.
For the year ended March 31, 2023, One97 Communications reported narrowing of loss to ₹1,776.5 crore from ₹2,396.4 crore in the previous fiscal.
The revenue from operations of the company grew by about 60 per cent to ₹7,990.3 crore in FY23 from ₹4,974.2 crore in FY22.
"Our 61 per cent YoY revenue growth for FY2023 was driven by payments monetisation and growing scale of our loan distribution business," the company said in a statement on Friday.
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